5 Global Companies Considering Acquisition of Jabal El-Zeit Wind Farm in Egypt

Five global investment companies have begun a due diligence examination in preparation for acquiring the Jabal El-Zeit wind farm located on the Red Sea coast in Egypt, according to a government official.

The official's statements come about 48 hours after Egyptian Finance Minister Ahmed Kouchok told "Asharq" that Egypt intends to return to the government offerings program before the end of 2025, starting with the renewable energy sector, followed by finalizing 3 to 4 more exit deals before the end of June 2026.

The Renewable Energy in the Government Offerings Program

According to the initial draft of the government offerings program, Egypt aims to exit from the Jabal El-Zeit wind farm on the Red Sea coast and the Siemens power plant in Beni Suef Governorate, although the minister did not specify the name of the plant that will be offered.

The official clarified that the list of companies includes Saudi "ACWA Power", British "Actis", and UAE's "Alcazar", in addition to a Malaysian company and a European entity whose name has not been disclosed.

He added: "The companies have until the end of October to submit their bids."

The capacity of the Zaafarana wind power plant is 545 megawatts, and the project was implemented in several phases starting from 2001 through governmental cooperation protocols with Germany, Denmark, Spain, and Japan. Meanwhile, the capacity of Jabal El-Zeit wind projects is 580 megawatts, including Jabal El-Zeit 1 with a capacity of 240 megawatts, Jabal El-Zeit 2 with a capacity of 220 megawatts, and Jabal El-Zeit 3 with a capacity of 120 megawatts. These were implemented in cooperation with the Spanish government.