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FINANCIAL NEWS
UAE firm to invest USD400m in Egyptian power projects
19 Jan 2015
(MENAFN) Access Infra, a subsidy that was founded with a contribution from UAE company Access Power and which operates in energy production projects in the Middle East and Africa, said that it plans to invest approximately USD350 million to 400 million in new and renewable energy projects in Egypt over the next two to three years, Daily News Egypt reported.
“The alliance plans to produce 300 MW of electricity in the first phase of projects generating electricity with two-thirds coming from solar and one-third from wind energy in Egypt,” Access Power Chairman said.
The company, which is considering different financial mechanisms through local and global banks for its projects in Egypt, with the funding structure including 70-80 percent of bank loans and 20-30 percent of capital financing, said that it has plans to between 100-150 million in Egypt annually for five years.
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