Egypt to list 40% stake in Jabal El-Zeit Wind Power Plant on EGX before year-end

The Egyptian government is preparing to list up to 40 percent of the Jabal El-Zeit Wind Power Plant Company on the Egyptian Exchange (EGX) before the end of this year, as part of its state-owned IPO program, according to Al-Borsa. The move comes after authorities abandoned plans to sell the company directly to a strategic investor.

Government sources revealed that officials have chosen to pursue a public share offering rather than finalize a deal with the UK-based Actis fund, which had earlier expressed interest in acquiring the company in full for between $300 million and $340 million. Talks with Actis were halted following disagreements over valuation and execution terms.

The listing process is already underway, with completion anticipated in the coming weeks, paving the way for domestic and international marketing to both institutional and individual investors.

Officials emphasized that the decision supports Egypt’s broader objective of expanding ownership and attracting foreign and local investment into the renewable energy sector, which has witnessed remarkable growth—particularly following the success of landmark projects such as Benban Solar Park and Jabal El-Zeit Wind Farm.

With a generation capacity exceeding 580 megawatts, the Jabal El-Zeit facility ranks among the largest wind farms in the Middle East. It plays a vital role in enhancing Egypt’s clean energy mix and cutting carbon emissions, making it a strategic national asset expected to attract strong investor interest at a valuation that reflects its true market value.

The upcoming IPO forms part of Egypt’s wider plan to expand its public offerings program by 2025, designed to draw new capital to the EGX and increase private sector participation in managing and owning productive and service-oriented assets.

According to the sources, the government aims through this step to enhance the company’s operational efficiency, improve transparency, and align financial reporting with EGX standards, replicating the success of previous energy-sector listings.

They added that the offering will provide a notable opportunity for local and international investors to invest in one of the region’s flagship clean energy projects, with the final valuation expected to be finalized within the next few weeks.