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.

Partagez:

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.

  • Populaires ​
Russia ready to deliver liquefied natural gas to Mexico
Global electricity access reaches 92%, 666 million people still excluded
United States: Unprecedented firing of nuclear regulator sparks intense controversy
Keranic takes over Royal Helium and fast-tracks Steveville plant restart
Fortum selects Westinghouse to study an AP1000 reactor in Finland
Encavis acquires two German wind farms totalling 59 MW from Energiequelle
German operator Encavis AG strengthens its portfolio by acquiring two wind farms in Lower Saxony and Saxony, totalling 59 MW, in a transaction with Energiequelle GmbH, thereby expanding its renewable energy assets.
Ocergy launches 15 MW floating wind turbine pilot project with international partners
Ocergy officially launches an industrial project aiming to install by 2028 a new-generation floating wind turbine of over 15 MW, in partnership with EnBW, Kyuden Mirai, and TEPCO Renewable Power.
France Officially Launches Its First Floating Wind Farm in the Mediterranean
France officially commissions its first floating wind farm, consisting of three turbines with a combined capacity of 25 megawatts, introducing strategic technology in the Mediterranean, vital for national energy goals.
France: Petit Doré wind farm delivers its first Breton megawatt-hours
Inaugurated on 20 June, the five-turbine plant of wpd onshore France feeds 18 MW into the grid and unlocks new tax revenue for four Côtes-d’Armor municipalities.
Statkraft reduces offshore wind investments following strategic review
Statkraft refocuses investments on flexible Nordic hydropower and reduces commitments in offshore wind and hydrogen to lower operating costs, amid an uncertain economic environment and pressured profitability.
Suzlon secures 170.1 MW order from AMPIN for Andhra Pradesh
Suzlon Group receives third consecutive order from AMPIN Energy Transition to supply 170.1 MW of wind turbines for a project in India's Andhra Pradesh state, strengthening their strategic industrial partnership.
Scotland approves major 1GW floating wind project off Aberdeenshire coast
The Muir Mhòr floating wind project secures Aberdeenshire's onshore consent, paving the way for the potential production of one gigawatt of electricity, enough to power up to 1.2 million British homes by the early 2030s.
Iberdrola España signs wind energy contract with Renfe for 3,700 GWh
Iberdrola España and Renfe conclude a virtual power purchase agreement for 370 GWh per year for ten years, strengthening the use of renewable energy in Spanish railway transport.
TotalEnergies awarded 1GW offshore wind concession in the North Sea
TotalEnergies has been awarded a concession in the North Sea enabling the development of a 1GW offshore wind project, reinforcing its strategic presence in Germany.
Global Offshore Wind Capacity: 85 GW Achieved, 100 GW Targeted by 2026
With an annual increase of 14%, global offshore wind capacity now reaches 85.2 gigawatts, driven mainly by China, the United Kingdom, and Germany, while another 27.3 gigawatts are currently under construction.
TotalEnergies launches geotechnical surveys for the Jammerland Bugt wind farm
Seabed exploration begins in Jammerland Bay to validate the placement of sixteen turbines and the cable corridor, the first tangible step before construction of the project led by TotalEnergies and European Energy.
Thor offshore wind farm prepares its operational centre in Thorsminde
RWE and Østermark Entreprenørforretning celebrate advanced construction of the operational building for Denmark's largest offshore wind farm, promising up to 60 permanent local jobs by 2026.
RWE and Amazon sign strategic agreement for energy and digital innovation
RWE and Amazon Web Services enter a strategic collaboration to supply renewable energy for data centres and accelerate digital capabilities within the global energy sector.
SSE Renewables commissions 28 MW wind farm in Marne
SSE Renewables inaugurated its first wind farm in Southern Europe in Chaintrix-Bierges and Vélye, with eight Siemens Gamesa turbines and an investment exceeding €30mn ($32.3mn).
VALOREM joins Elicio and Q ENERGY for the AO9 floating wind tender
The Astenn Avel consortium, led by Elicio and Q ENERGY, brings in VALOREM to bid for the 500 MW floating wind project planned off the coast of Southern Brittany.
CIB funds $108.3mn for 102 MW wind farm in Quebec
The Canada Infrastructure Bank supports the construction of the Mesgi'g Ugju's'n 2 wind farm, co-owned by Mi'gmaq communities and Innergex, through a combined equity and debt financing package.
Ocean Winds assembles its first floating wind turbine on the EFGL project in the Mediterranean
The first turbine of the Éoliennes Flottantes du Golfe du Lion project was assembled at Port-La Nouvelle, marking a major industrial milestone for Ocean Winds and its partners.
RWE commissions 14.7 MW wind farm in Brittany
RWE inaugurated an onshore wind farm in Plounérin and Plounévez-Moëdec, featuring four turbines with a capacity of 14.7 MW, in partnership with the local SEM Lannion-Trégor.
France: wpd commissions a 10 MW wind farm in northern France
The Moulins wind farm, made up of five turbines, was inaugurated on June 6 across three municipalities in the Douaisis region. It will generate €70,000 in annual tax revenue for local authorities.
SANY R.E. signs 168 MW wind contract in Serbia to expand its presence in Europe
Chinese firm SANY Renewable Energy enters Serbia through a 168 MW wind deal aimed at powering the local grid from 2028.

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

© XMARKET PUBLISHING

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS