- CASIL has acquired UAE Clean energy company, Alcazar.
- CASIL is looking to expand into the MENA region.
- Alcazar currently has a solar and wind projects portfolio of about 411MW
China’s Three Gorges South Asia Investment Ltd has acquired Dubai-based Alcazar Energy Partners, a clean energy project developer. CASIL, alongside its unnamed consortium partners, have completed the financial acquisition, the company said on Monday.
The company believes the move will help it grow and expand its services, especially in new markets in the wider Middle East and North Africa (MENA) region. Alcazar currently owns five solar PV and two wind projects in Egypt and Jordan with a cumulative capacity of 411MW.
The company is backed by several clean energy investors, including the International Finance Corp (IFC), Mubadala Infrastructure Partners, Mubadala Infrastructure Partners and BluStone Management. CASIL is an investment holding company is owned by the Chinese state-owned power group China Three Gorges Corporation and its overseas investment arm China Three Gorges International Corporation, the IFC and Silk Road Fund.
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