As stated on the project summary disclosed by the DFC, the proposed project involves DFC financing and political risk insurance for the acquisition and operation of a 580 MW brownfield wind power plant. The plant includes 290 wind turbines each with a capacity of 2 MW and a height of 100 meters. Egypt's New and Renewable Energy Authority (NREA) currently owns the plant, which was built in three phases, the first of which began commercial operations in 2018.
Operations and maintenance will continue to be carried out by Siemens Gamesa Renewable Energy. The plant provides power to the national grid via a substation and transmission lines, and the project will sell power under the terms of a 25-year Power Purchase Agreement with the Egyptian Electricity Transmission Company.
The project site is approximately 46 km2 on land owned by the Government of Egypt in an arid desert area with sparse vegetation. The site is located approximately 30 km south of Ras Ghareb, and there are no residents within 10 km.
Investment information not provided at the time of disclosure.
As stated on the company's website, Actis is a leading global investor in sustainable infrastructure.
As stated by Bloomberg, Lekela Power provides renewable energy generation equipment. The Company offers wind and solar energy equipment. Lekela Power serves customers worldwide. As stated on Actis' website, Actis established Lekela in 2015 to deliver clean, reliable energy across Africa. Together with our joint investment partner Mainstream Renewable Power Africa Holdings, we built the business into Africa’s largest pure play renewable energy Independent Power Producer. The platform consists of more than 1 GW of fully operational wind assets, including five operational wind farms in South Africa, one in Egypt, another in Senegal, as well as development opportunities in Ghana, Senegal and Egypt.
Siemens Gamesa Renewable Energy, S.A. designs and manufactures renewable energy equipment. The Company offers wind turbines, turbine gearboxes, offgrid, and other related equipment, as well as provides maintenance and reconditioning services. Siemens Gamesa Renewable Energy serves industrial facility management, automotive industry, and new technology development worldwide.
|Private Actor 1
|Private Actor 1 Role
|Private Actor 1 Sector
|Private Actor 2
|Private Actor 2 Role
|Private Actor 2 Sector
|Siemens Gamesa Renewable Energy SA
|Lekela Egypt Wind Power BOO S.A.E.
Project contacts not provided at the time of disclosure.
Financial Intermediary - Actis Long Life Infrastructure Fund:
Address: Suite 405, Galleria 40 East Tower, El-Sheikh Zayed, Giza, 12461, Egypt
Client - Lekela Power:
Contractor - Siemens Gamesa Renewable Energy SA:
Address: Siemens Gamesa Renewable Energy Parque Tecnológico de Bizkaia, Edificio 222 48170, Zamudio, Vizcaya Spain
Phone: +34 944 03 73 52
ACCESS TO INFORMATION
Unlike many other development finance institutions, DFC does not currently have an access to information policy.
Under the United States Freedom of Information Act (FOIA), DFC is obliged to respond to reasonably formulated requests for Agency records. However, DFC may apply exemptions from release to certain types of information and may charge fees in responding to requests. DFC has a designated FOIA officer who is trained in how to respond to requests and implement the law. You can learn more about filing a FOIA request at: https://www.dfc.gov/foia
ACCOUNTABILITY MECHANISM OF THE UNITED STATES INTERNATIONAL DEVELOPMENT FINANCE CORPORATION (DFC)
The Office of Accountability is an independent office that addresses complaints about environmental or social issues related to DFC-supported projects. The office provides communities an opportunity to have concerns independently reviewed and addressed. If you submit a complaint to the Office of Accountability, it may assist you by either seeking to address your problems by facilitating a problem solving dialogue between you and those implementing the project and/or investigating whether the DFC complied with its policies to prevent environmental, social, human rights, and labor harms.
You can find more information about the Office of Accountability at: https://www.dfc.gov/who-we-are/office-accountability