ACWA Power’s 200MW Kom Ombo solar project obtains $123 million financing package
ACWA Power, a leading Saudi developer, investor, and operator of power generation, water desalination and green hydrogen plants worldwide, today announced that it has signed a US$123 million financing package to develop the 200MW Kom Ombo project, a utility-scale solar power plant in Egypt. Financing institutions for this project include European Bank for Reconstruction and […]
Infinity Power Finalizes Acquisition of Lekela Power in Africa’s Biggest Renewable Energy Deal
Infinity Power has acquired 100% shareholding of Lekela Power, an Africa based wind power platform. Infinity Power, a joint venture between Egypt’s Infinity and UAE’s Masdar, announced today it has completed the acquisition of the entire shareholding of Lekela Power. The transaction makes Infinity Power the largest renewable energy company on the African continent. Infinity’s key stakeholders include Africa […]
Adnoc Distribution closes acquisition of 50% stake in TotalEnergies Egypt
Adnoc Distribution now owns half of one of Egypt’s largest fuel retailers: Adnoc Distribution, the distribution arm of UAE’s state oil company Abu Dhabi National Oil Company, has completed its acquisition of a 50% stake in fuel retailer TotalEnergies Egypt, it said in a statement yesterday. The acquisition marks Adnoc’s entry into the Egyptian fuel distribution market. […]
Gulf investors reportedly eyeing stakes in merged Sidpec-Ethydco
Gulf investors are already lining up to get a piece of the planned merger between EGX-listed Sidi Kerir Petrochemicals (Sidpec) and Egyptian Ethylene and Derivatives Company (Ethydco), sources in the know reportedly told Al Mal. The unidentified investors are reportedly looking to acquire between 16-20% of the new company, a number that could go up or […]
Egypt launches new bid round for oil & gas exploration in Mediterranean, Nile Delta
Egypt has set a new international tender for oil and gas exploration rights in the Nile Delta and Mediterranean sea, the state news agency reported on Tuesday. The tender was set for 12 blocks, split evenly between onshore and offshore, and the deadline for offers in the bid round was set for April 30, 2023, […]
BP to Explore Potential for Green Hydrogen Production in Egypt
bp signed a memorandum of understanding (MoU) with the Government of Egypt under which it will explore the potential for establishing a new green hydrogen production facility in the country. The MoU was signed by bp, Egypt’s New and Renewable Energy Authority (NREA), the Egyptian Electricity Transmission Company (EETC), the General Authority for Suez Canal […]
Eni reported to be in preliminary talks to buy Neptune Energy for $5-6 billion
Eni is in preliminary talks to buy private-equity backed gas and oil producer Neptune Energy for around $5 billion -$6 billion, a source with knowledge of the matter said on Wednesday, adding that no official bid had been submitted. Neptune produces around 130,000 barrels of oil equivalent per day (boed), three-quarters of which is gas. […]
AMEA Power signs Agreement with Government of Egypt to deploy 1,000MW Green Hydrogen Project
Agreement signed will support Egypt’s long term vision to become a green hydrogen hubThe project will produce 800,000 tonnes of green ammonia per year for export. AMEA Power, one of the fastest growing renewable energy companies in the Middle East, announced today that it has signed a Framework Agreement with the Government of Egypt to develop a 1,000MW […]
Sovereign Fund of Egypt joins ACWA Power as co-investor of 1.1 GW Wind Energy project in the Suez Gulf Area
ACWA Power, a leading Saudi developer, investor, and operator of power generation, water desalination and green hydrogen plants worldwide, today signed a memorandum of Understanding (MoU) with The Sovereign Fund of Egypt (TSFE) to explore a joint investment in the 1.1 GW Wind Energy project, located in the Gulf of Suez in Egypt. The MoU […]
Elsewedy Industrial Development & Global Chemical company BASF signed MoU to establish a Green Logistics Hub in Sokhna 360
First German Green Logistics Hub in Sokhna 360: Elsewedy Industrial Development & Global Chemical company BASF signed MoU to establish a Green Logistics Hub in Sokhna 360. Moving towards establishing green cities, Elsewedy Industrial Development, the leading integrated developer for sustainable industrial cities and a subsidiary of Elsewedy Electric signed an MoU with BASF, a […]
