China Three Gorges South Asia Investment has wholly acquired Dubai-based Alcazar Energy Partners’ portfolios in Egypt and Jordan, totalling 411MW.
A subsidiary of China Three Gorges Corporation, the investment group led the acquisition along with “other consortium members”. It has not provided any financial details, but Bloomberg had previously reported such a deal could value Alcazar at roughly US$1 billion, including debt.
Try Premium for just $1
- Full premium access for the first month at only $1
- Converts to an annual rate after 30 days unless cancelled
- Cancel anytime during the trial period
Premium Benefits
- Expert industry analysis and interviews
- Digital access to PV Tech Power journal
- Exclusive event discounts
Or get the full Premium subscription right away
Or continue reading this article for free
Alcazar owns five solar and two wind projects in Egypt and Jordan with a total operational capacity of 411MW. It was established in 2014 and has raised over US$700 million in debt and equity.
French investment bank Natixis, its affiliates Vermilion Partners and EFG Hermes acted as Three Gorges’ financial advisors in the deal. Standard Chartered was Alcazar’s exclusive financial counsellor. The purchase will see the Chinese company develop a presence in the Middle East and North African region, while last year it also acquired a 500MW portfolio in Spain.
