Egypt's EFG Hermes looks to manage renewable energy projects

Egyptian investment bank EFG Hermes aims to manage renewable energy projects totalling 400-500 megawatts in the north African country in the coming three years, said the bank’s energy head Bakr Abdel Wahab.
EFG Hermes, one of the largest investment banks in the Middle East, is currently active in the renewable energy sector in Europe through a green company called Vortex.

“We are thinking of establishing a holding company to manage energy projects, like Vortex, but in Egypt,” said Abdel Wahab.

He said the projects that the bank was targeting were worth at least $250 million in investments and that the bank was looking to reach 2000 megawatts by 2020 with a capital of $500 million.