UAE - Mubasher: Dubai-based Alcazar Energy Partners (AEP) has been fully acquired by China Three Gorges South Asia Investment (CSAIL) in consortium with other investors.
The transaction will enable CSAIL, a subsidiary of the China Three Gorges Corporation (CTG) which is China’s largest clean energy group, to expand across MENA's growing renewable energy market, AEP announced on Monday on its official website.
Established in 2014, Alcazar Energy is an independent private sector developer and producer that focuses on mid-market renewable energy generation across the Middle East, Africa, and Turkey (META) region.
The Dubai-based company has developed and financed seven wind and solar projects across Jordan and Egypt with a total generation capacity of 411 MW.
While the value of the deal has not been disclosed, Bloomberg previously reported that Alcazar could be valued for around $500 million.
