China Three Gorges buys Dubai-based wind, solar developer Alcazar

A consortium led by state-owned China Three Gorges South Asia Investment (CSAIL) has completed a deal to acquire Dubai-based wind and solar developer Alcazar Energy Partners (AEP). The deal will give CSAIL a vital foothold in the renewable energy markets in the MENA region. Financial details weren’t disclosed.

AEP, whose investors include a fund linked to Abu Dhabi’s Mubadala Investment Co., Dubai-based BluStone Management Ltd. and the World Bank’s International Finance Corp., has built a portfolio of five solar and two wind projects in Egypt and Jordan, with a total operational capacity of 411 MW.