China boosts renewable portfolio in Middle East

China Three Gorges South Asia Investment has acquired Alcazar Energy and its 411MW renewable porfolio

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China Three Gorges South Asia Investment (CSAIL), along with other Chinese investors, has acquired Alcazar Energy – one of the largest renewable energy companies in the Middle East and North Africa.

The Alcazar portfolio consists of seven wind and solar projects across Jordan and Egypt, with a total generation capacity of 411MW.

The acquisition gives Chinese business a foothold in the Middle Eastern renewables market, which is projected to have $175 billion (£127bn) invested in it globally over the next decade.

Daniel Calderon, Chief Executive Officer of Alcazar Energy, said: “Our plants have helped develop the renewable energy industry in Jordan and Egypt powering 275,000 households and saving over 15.6 million tonnes of carbon dioxide whilst also making a strong contribution to economic growth and employment, particularly within the local communities.

“I am certain that CSAIL will continue to serve our customers in Jordan and Egypt according to the highest industry standards and accelerate the company’s growth journey in the region.”