Is an final offer for Egypt’s Gabal El Zeit imminent? UK private equity giant Actis is expected to submit a binding offer to acquire the state-owned 580 MW Gabal El Zeit wind farm within “the coming days” after wrapping up its due diligence, a source at the Electricity Ministry told Enterprise. Actis’ offer values the wind farm at some USD 300 mn but the government is looking to push that figure to somewhere between USD 350-400 mn, the source said. Egypt is looking to finalize the purchase no later than November.

Last we heard… : Egypt had received five offers from investors interested in buying the country’s 580 MW Gabal El Zeit wind farm, Egyptian Planning Minister Hala El Said said in September. The government had granted an unnamed “international investor” two months to take a decision on whether to go ahead with the purchase, El Said said, adding that she expected the sale to be wrapped up by October or November.

REMEMBER- Egypt is selling off shares in the state-owned 580 MW Gabal El Zeit wind farm along with the state-owned 545 MW Zafarana wind farm, which are on the list of more than 30 companies and assets earmarked for privatization by the government. The sale comes under an ambitious plan by the government to bring in USD 5 bn in investment through the privatization of state-owned companies and assets. A leaked state ownership policy document to the press in August said that a joint committee between the Sovereign Fund of Egypt (SFE) and the country’s Electricity Ministry is negotiating the transaction with potential investors within specific parameters, including a tariff fee of USD 0.24 per kilowatt per hour (kWh), with 25% of it paid in EGP. The document said it expects the agreement to be finalized in October this year.