The London-based EBRD development bank announced last week that it plans to invest “up to $80mn” in “Alcazar Energy Partners II SLP” a fund being set up by Alcazar Energy with a view to investing a total of $500mn in renewables, primarily in the Mena region. The EBRD says approval of its investment is slated for 20 June.

Dubai-based Alcazar, “an independent fund management company focused on investing, financing, and developing utility scale renewable energy capacity in selected emerging markets” previously developed five solar and two wind projects totaling 411MW across Jordan and Egypt before last year selling these assets to a consortium of Chinese state firms led by China Three Gorges (MEES, 27 August). (CONTINUED - 213 WORDS)