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Egypt Secures Financing for 1.1 GW Wind Farm Project Led by ACWA Power and HAU Energy

The Suez Wind Farm, with a capacity of 1.1 GW, has reached a major milestone with $703.6 million in funding, marking a pivotal step in Egypt’s energy transition strategy and efforts toward energy independence.

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The Suez Wind Farm project, developed by ACWA Power and HAU Energy, represents a significant achievement in Egypt’s efforts to diversify its energy mix. With a capacity of 1.1 gigawatts (GW), it stands as the largest wind project under a single contract in the Middle East.

The project, financed with $703.6 million from a banking consortium including the African Development Bank (AfDB), strengthens Egypt’s renewable energy ambitions. The AfDB announced in December 2024 the approval of a loan of up to $170 million for the initiative.

ACWA Power, holding a 70% stake in the project, and HAU Energy, with 30%, are collaborating to meet the growing demand for renewable energy. According to Marco Arcelli, CEO of ACWA Power, “This historic project embodies Egypt’s commitment to reducing its carbon footprint while addressing the increasing energy demand.”

A Strategic Impact for Egypt

The Suez Wind Farm will supply electricity to 1,080,000 households while reducing annual carbon dioxide emissions by 1.1 million tons. These goals align with Egypt’s target to generate 42% of its electricity from renewable sources by 2040.

The project also highlights ACWA Power’s expanding role in Egypt, where the company has been present since 2015. In addition to this wind farm, it operates two photovoltaic solar facilities in Benban (120 MW) and Kom Ombo (200 MW). In 2023, ACWA Power secured 3,000 square kilometers of land in western Sohag for a 10 GW wind energy project.

A Collaboration for an Energy Future

This project is built on strong partnerships between private investors and international financial institutions. The successful financing underscores Egypt’s growing appeal for sustainable infrastructure projects.

By diversifying its energy sources, Egypt aims to reduce its reliance on fossil fuels and become a regional leader in renewable energy. The Suez Wind Farm plays a central role in this transition, combining national ambition with technological innovation.

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