March 24th, 2023 | Dubai, UAE
Alcazar Energy and Madkour Group Join Forces to Bolster Egypt’s Renewable Energy Sector
Alcazar Energy, a prominent renewable energy investor in the region, and Madkour Group, Egypt’s leading energy and water developer, have entered into a strategic partnership to advance renewable energy projects in Egypt. The collaboration was formalised at Madkour Group’s Cairo headquarters, with Daniel Calderon, Co-Founder and Managing Partner of Alcazar Energy, and Dr. Mostafa Madkour, Chairman and CEO of Madkour Group, signing the agreement.
Dr. Mostafa Madkour remarked, “Egypt has demonstrated its commitment to a clean energy transition at COP27, as per the government’s vision announcement of achieving 20% renewable clean energy capacity by 2030, 42% by 2035, and net-zero carbon emissions by 2050. As a strategic partner of the Egyptian government in the energy sector, Madkour Group is deeply committed to social responsibility. We look forward to leveraging the combined expertise and resources of both Madkour Group and Alcazar Energy to achieve sustainability goals across Egypt & Africa.”
Daniel Calderon added, “Egypt’s exceptional wind and solar potential and its strategic global position make it an ideal market for renewable energy investment. Alcazar Energy is poised to provide investment for circa 1GW of renewable energy projects in Egypt in the coming years, generating significant social, economic, and environmental benefits. In addition, we are honoured to collaborate with Madkour Group, which brings invaluable insight into Egypt’s unique challenges and the technological solutions required for a more efficient, sustainable energy system.”
Alcazar Energy, a sustainable infrastructure fund, concentrates on utility-scale renewable energy projects in select emerging markets. Its distinctive business model combines an investor and developer approach, backed by robust in-house delivery capabilities, providing a competitive advantage in enabling and preserving long-term value for investments while generating sustainable, risk-adjusted returns.
Madkour Group has over 30 years of experience in the energy sector in Egypt. Madkour evolved and prospered with a proven track record of delivering mega energy, infrastructure, and water projects with a high level of excellence, reliability, and a forward-thinking business model. This has helped the Group consolidate its position as one of the leaders in designing and building landmark infrastructure projects across Egypt. The Group is now expanding its geographical area to include all of the Middle East and Africa.
