B Investments sells stake in three Egyptian solar plants
The Egyptian private equity firm will receive total proceeds of $8.25 million.
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B Investments, an Egypt-based private equity firm, has signed definitive agreements to exit its entire stake in three solar power plants at Benban, Egypt, for total proceeds of $8.25 million.
The plants, with a combined capacity of 130 MW, are operated by Infinity Power.
“We have long believed that good partners make for good investments, and this successful exit is proof of that principle,” said Hazem Barakat, chairman of B Investments.
“Since our joint investment with Infinity Group in 2017 under the Ministry of Electricity’s Feed-in Tariff Program, these projects have delivered clean energy at scale and supported Egypt’s energy transition,” B Investments said in a statement.
The transaction is subject to customary regulatory approvals.
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