China Three Gorges South Asia Investment (CSAIL), together with other consortium members, has completed 100 per cent acquisition of Alcazar Energy Partners (AEP), one of the Middle East and North Africa region’s leading independent renewable energy developers and producers.
This transaction enables CSAIL to extend its business and gain exposure to the renewable energy markets in the Mena region.
In just under six years, Dubai headquartered AEP built a portfolio of five solar and two wind projects in Egypt and Jordan, with a total operational capacity of 411 MW. The company has a proven track record of best-in-class project development, contracting and operating capabilities and has played a leading role in the development of the renewable energy industry in Jordan and Egypt.
AEP’s established regional footprint, leading technology and operational excellence, provide a solid foundation for CSAIL’s future expansion in the region and this transaction will enable significant growth through access to new markets and business opportunities across the wider MENA region.
Driven by investor demand, the Mena region’s renewable energy sector is exposed to strong structural growth trends, with 157 GW of renewable energy capacity and additional $175 billion expected to be invested in the next ten years.
Daniel Calderon, Co-Founder and CEO of Alcazar Energy Partners, commented: “We are proud of what we have achieved at Alcazar Energy Partners with the support of our investors, lenders and local governments over the past six years. In this short period of time, we have built the MENA region’s leading developer and producer of renewable energy.
He said: “Our plants have helped develop the renewable energy industry in Jordan and Egypt powering 275,000 households and saving over 15.6 million tons of CO2 whilst also making a strong contribution to economic growth and employment, particularly within the local communities. I am certain that CSAIL will continue to serve our customers in Jordan and Egypt according to the highest industry standards and accelerate the company’s growth journey in the region.”
Financial advisors to CSAIL on this transaction were Natixis and its affiliates Vermilion Partners and EFG Hermes; Allen & Overy LLP provided legal counsel. –Tradearabia News Service