Financial and political agenda underpins Gulf commitments
Issue 990
- 03 Apr 2015
| 4 minute read
The massive support from Gulf-based institutions for a new and hugely ambitious programme of power sector investments in Egypt may not be as quixotic as it first appears. The intention to back multi-gigawatt coal and renewable generation projects – announced at a conference in Sharm El-Sheikh in mid-March by seven large developers from Saudi Arabia, the UAE and Kuwait – is underpinned by a financial logic which cuts across many of the obvious risks that would normally concern investors. And it has political attractions.
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