S'abonner

The AfDB Funds a Historic 1.1 GW Wind Project in Egypt

The African Development Bank grants a $170 million loan for the Suez Wind Energy project. A strategic step to strengthen Egypt's leadership in renewable energy.

Share:

The African Development Bank (AfDB) has recently approved funding of $170 million to support the Suez Wind Energy project in Egypt. This project, with a capacity of 1.1 gigawatts (GW), is estimated at a total cost of $1.1 billion. It is backed by several international institutions, further strengthening Egypt’s position as an African leader in renewable energy.

Developed in collaboration with major players, including the Saudi-based Acwa Power, this project has been awarded the “Golden License” by the Egyptian government. This recognition underscores its strategic importance for the country, both economically and environmentally.

Kevin Kariuki, Vice President for Electricity, Energy, Climate, and Green Growth at the AfDB, stated: “The Suez Wind Energy project is a historic development that highlights the Bank’s commitment to promoting transformative clean energy initiatives across Africa.”

Funding Supported by International Partners

The project also benefits from additional financing sources, notably the European Bank for Reconstruction and Development (EBRD), which is considering providing further support through a $200 million senior debt facility. These contributions demonstrate Egypt’s growing attractiveness to investors in large-scale renewable energy projects.

Between 2010 and 2021, Egypt emerged as a major player in renewable energy in Africa, securing $7.14 billion in funding for projects in the sector, according to ZeroCarbon Analytics. The country ranks behind South Africa and Morocco in terms of attracted capital.

A Key Role for Egypt in Africa’s Energy Transition

Egypt currently accounts for 21% of the installed wind power capacity on the African continent, reflecting its ambitions in the energy transition. Projects like Suez Wind Energy are part of a national strategy to diversify the energy mix while meeting global climate goals.

By partnering with international stakeholders and adopting incentive frameworks like the “Golden License,” the Egyptian government aims to become a benchmark for renewable energy in the MENA (Middle East and North Africa) region.

  • Popular on energynews.pro
PDVSA prepares to resume oil exports as US licensing eases
Sonatrach and Sinopec accelerate exploration of new oil basins in Algeria
Qatar threatens to divert its gas exports to Asia over European rules
TenneT invests EUR 5.5 bn in Dutch and German grids in the first half of 2025
Iberdrola and Echelon announce a joint venture for data centres in Spain
US wind energy sector faces political and tariff headwinds in 2025
The US wind market recorded 91% growth in the first quarter of 2025, but new regulatory restrictions and the planned end of tax credits threaten the sector’s future.
Trump revokes 3.5 million acres dedicated to US offshore wind
The Trump administration cancels federal offshore wind zones, threatening 77,000 jobs and $12bn in annual investments in a sector currently employing 120,000 people.
EDP Renovaveis sees profit drop 56% despite increase in wind power production
The renewable division of Energias de Portugal (EDP) reported a sharp decline in first-half net profit due to a marked reduction in gains from asset sales, while electricity production and revenue increased.
The US wind market accelerates in Q1 despite falling turbine orders
The US wind sector saw marked progress in the first quarter, but regulatory uncertainty slowed turbine orders, creating medium-term challenges for the industry.
VALEMO secures technical supervision of the Yeu-Noirmoutier offshore wind farm
VALEMO, the French energy maintenance company, will lead the remote supervision of the Yeu-Noirmoutier offshore wind farm, bringing its expertise to the ongoing management of marine electricity production infrastructure and equipment.
Opdenergy acquires 440 MW of wind in Spain from Acciona Energía for over €500mn
Opdenergy acquires thirteen new wind farms in Spain for a total capacity of 440 MW, strengthening its international presence and portfolio through a major asset transfer operation in the sector.
Sonnenberg V: major partnership for a 235 MW wind project in Saxony-Anhalt
The Sonnenberg V project marks a new milestone with the signing of a cooperation agreement between ENERTRAG and EBERT for the renewal and expansion of a 235 MW wind farm in Saxony-Anhalt. —
OX2 acquires major wind farm in Sweden and strengthens its commercial partnerships
OX2 acquires a 34-turbine wind project in the Dalarna region, representing 14% of the county’s electricity consumption, marking a step forward in its commercial collaborations with Eolus and Dala Vind.
Nordex Group posts 81% order growth and strong cash flow in the second quarter of 2025
Nordex Group records a significant jump in profitability and order intake, reaching EUR 2.3 bn in the second quarter of 2025, confirming its financial trajectory with a positive free cash flow.
ENERCON receives €3.7 mn public support to accelerate wind turbine production in Aurich
German manufacturer ENERCON is investing up to €30 mn in expanding its Aurich site, with public financial backing to boost the ramp-up of its new turbines designed for the onshore wind market.
EDF inaugurates 450 MW offshore wind farm in Scotland
The Neart na Gaoithe offshore wind farm, with a capacity of 450 megawatts, comes online off the coast of Scotland, mobilising GBP200 mn ($259 mn) in public and private investment for the region.
United Kingdom raises guaranteed offshore wind prices by 11% in next auction
The British government is increasing by 11% the guaranteed price for offshore wind electricity to support projects facing inflation and supply chain constraints.
DP Energy launches a 1,400 MW wind project in Queensland with integrated storage
DP Energy plans to build a 1,400 MW wind farm near Julia Creek, supported by an energy storage system, enhancing industrial momentum and supply prospects in northern Queensland.
Equinor records $955mn impairment on Empire Wind project off New York
Equinor announces a significant impairment on its offshore wind project Empire Wind, due to regulatory changes and tariffs, affecting its quarterly results.
SEPCO3 awarded EPC contract for 700 MW Yanbu wind energy project
Shandong Electric Power Construction Corporation No. 3 (SEPCO3) has signed an EPC contract for the construction of the 700 MW Yanbu wind energy project under Saudi Arabia's National Renewable Energy Program.
China unveils 17 MW floating wind turbine prototype
The 17 MW floating wind turbine prototype, the most powerful in the world, was launched in China, marking a significant advancement in offshore turbine manufacturing and supporting the development of deep-sea offshore wind power.
RWE commissions 53.1 MW wind farm in Italy
RWE has inaugurated the Mondonuovo wind farm in Italy, a 53.1 MW facility capable of powering 55,000 Italian households. This project marks a key milestone in the development of renewable energy in Italy.
Bpifrance grants €17mn to Wysenergy for 9-MW wind farm in Marne
Swiss company Wysenergy has secured public funding for its first wind project in France, located in the municipality of Faux-Fresnay and selected under the PPE2 tender scheme.
OVO launches new subsidiary dedicated to onshore wind farm repowering in the United Kingdom
Energy supplier OVO plans to invest several hundred million pounds in the renovation of British wind farms, aiming to increase national capacity and accelerate the country’s energy transition.
Cadeler receives Wind Keeper vessel and secures firm EUR210m contract
Danish group Cadeler has taken early delivery of the Wind Keeper, its eighth vessel, now tied to a three-year contract with Vestas worth a firm EUR210m ($228m), including additional options.

FOSSILS

POLICY

RENEWABLE

PLUS

© XMARKET PUBLISHING