The Clap
The Sovereign Fund of Egypt (SFE) is set to acquire a 10% stake in Saudi’s ACWA Power wind farm in the Gulf of Suez.
You should know
This isn’t the first time this project made the news, as the Omani sovereign wealth fund recently acquired a similar stake in the project.
What
The wind farm is set to cost $1.5 billion, with up to 75% of the project being financed through bank loans.
So what
At the completion of the project, it’s expected to reduce carbon emissions by 2.4 million tons annually, as well as provide a million households with electricity.
Now what
The SFE seeks the highest possible returns on its investments, & sustainability projects have risen in popularity for investors.
