Elsewedy Electric seeks funding for two wind projects worth USD900mn
Elsewedy Electric, Marubeni and Masdar have begun seeking debt funding for two wind farm projects worth USD900mn. The companies have reached initial funding agreements with Japanese financiers and are set to begin negotiations with other lenders once final sign-off and approvals are received from the government. It is worth noting that the feed-in tariff rate for the project has not yet been agreed upon and will supposedly be settled by the government within the coming month.
Elsewedy Electric: EGP225.78 as of 1 Apr. 2018, Rating: Buy, TP: EGP190.00/share, MCap: USD2,795mn, SWDY EY/SWDY.CA
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