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Thursday, 7 July 2022

Globeleq is interested in investing in Egypt’s renewables, clean energy projects

Globeleq eyes Egypt energy investment: Africa-focused power producer Globeleq is looking to invest in electricity, renewable energy, green hydrogen and green ammonia projects in Egypt, the company’s renewables chief told Electricity Minister Mohamed Shaker yesterday, according to Ahram Gate.

Globeleq set foot in Egypt last year: The UK-based company entered the Egyptian renewables space last year when it acquired a 66-MW Benban solar plant from a consortium of Italian and Saudi companies.

Other things we’re keeping an eye on this morning:

  • GlobalCorp is investing EGP 150 mn into a new consumer finance platform dubbed Ollin, that will operate as a one stop shop allowing users to obtain auto loans, mortgages, education loans and more. The NBFS player was acquired by the European Bank of Reconstruction and Development (EBRD), SPE Capital, and Amethis earlier this year. (Statement, pdf)
  • Abu Dhabi Islamic Bank Egypt (ADIB) has increased the capital of its consumer finance unit by EGP 68.6 mn to EGP 98 mn. (EGX filing, (pdf)
  • The National Authority for Tunnels and RATP Dev Mobility Cairo are considering legal action against design studio Wali’s Studio for allegedly plagiarizing the designs of a Russian artist on the walls of a Cairo Metro Line 3 station. (Statement)

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