Infinity company is currently building an energy platform across Africa, and is expected to IPO in the near future.
The source added that private equity firm, B Investments, has two options regarding its investment in Infinity, both of which are under discussion.
The first option is accepting any of the offers placed by potential interested parties, and exercising an exit. The other entails swapping into a bigger investment in this area.
In partnership with Infinity and ib vogt, BPE Partners and its managed vehicles own a portfolio of three solar power generation plants located in Benban, Aswan governorate, with a total capacity of 130 MW.
The company is expected to distribute dividends in the first quarter (Q1) of 2021, amounting to 12-15% of the investment cost.
The investment is financed through equity and debt from international development finance institutions. These include the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC).
Additionally, these solar projects are part of the second round of the Ministry of Electricity and Renewable Energy’s feed-in tariff programme. It aims to encourage the development of renewable energy resources in Egypt, whilst boosting private sector involvement in energy generation.
The assets have secured long-term sales agreements with the Egyptian government, with payments secured by the Ministry of Finance. The projects are expected to off-set over 300,000 metric tonnes of green-house gases annually.
The three projects completed all technical and contractual requirements, enabling them to commence operation.
