Home Power plant Actis eyeing $4.5bn fund for Mena renewable energy projects

Actis eyeing $4.5bn fund for Mena renewable energy projects

Actis, an emerging markets investment firm based in London, UK, is eyeing finance worth $4 billion for launching its new international fund Actis 5, which aims to invest in renewable energy and infrastructure projects in the Middle East and North Africa, said a report.

The new Actis fund will concentrate its work on combined cycle power projects; wind power generation projects with build, own, operate (BOO) systems; and solar energy projects, reported Hapi Journal, citing a senior official.

Actis is also targeting investment in water desalination and treatment projects with its $1.2 billion infrastructure fund, stated Partner and Head of Mena Sherif El Kholy.

The fund will be limited so that sovereign funds, major international pension funds, and major financial institutions will be the only organizations able to participate in the fund, said the official.

Actis, he stated, was open for the Sovereign Fund of Egypt (SFE) to join their new fund, noting that both parties have previously signed an MoU for cooperation in multiple sectors.

The fund is likely to be up and running by the year-end, stated El Kholy, adding that they are currently completing the fund’s subscription.

As per Tradarbia

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