EBRD considers Gabal El Zeit acquisition loan.

The European Bank for Reconstruction and Development (EBRD) is considering providing a long-term senior loan of up to $140 million to finance the acquisition of the Gabal El Zeit wind farm in Egypt. The wind farm, with a capacity of 580MW, is currently owned by The Sovereign Fund of Egypt (TSFE) and is being acquired by Actis for $350 million. Actis will hold 100% ownership of the farm through its Actis Long Life Infrastructure Fund. The loan is currently in the structure review stage and, if approved, will support the privatization of state-owned assets in Egypt. The energy generated by the wind farm will be sold to the Egyptian Electricity Transmission Company (EETC) at a rate of $0.024 per kilowatt hour under a long-term power purchase agreement. [Extracted from the article]