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Wednesday, 14 August 2019

Enara to invest USD 1 bn in Africa’s renewables, infrastructure over 3 years

INVESTMENT WATCH- Enara to invest USD 1 bn in African renewable energy, infrastructure over three years: Renewable energy and infrastructure developer Enara Group is planning to invest up to USD 1 bn in Egypt and the rest of Africa over the coming three years, founder and chairman Sherif El Gabaly told Al Masry Al Youm. Enara secured a USD 200 mn loan from international financiers, including the European Bank for Reconstruction and Development, the African Development Bank, and the World Bank, he added, without providing further details. We noted in June that the company is preparing to break ground on USD 600 mn-worth of solar projects in El Wadi El Gedeed, which will have a total production capacity of 600 MW.

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