Connection

popular articles

ExxonMobil Launches $75 Million Pipeline Project in Argentina
Fusion Fuel continues its Green Hydrogen Project in Toledo
Akuo launches participatory financing for its solar power plants in Greece
First phase of Suriname photovoltaic project delivered
SK Innovation invests in underwater carbon storage in Australia

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.

Please 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.

Register free of charge for uninterrupted access.

Publicite

Latest news

The Czech Republic aims for 68% nuclear electricity by 2040
The United States lifts 200 restrictions on Indian nuclear entities
Senegal: Sangomar Exceeds Oil Production Targets for 2024
Nigeria aims for a 140% increase with Seplat Energy
Mauritania secures 27 million dollars to develop its energy sector

Recently published in

The United States Sees LS Power Acquiring 3,000 MW of Renewable Energy

LS Power strengthens its North American portfolio with the acquisition of 3,000 MW of renewable projects from Algonquin Power's division.
South Korea Launches 96 MW Offshore Wind Farm Led by CIP and SK Innovation
The Jeonnam 1 wind farm, with a capacity of 96 MW, marks a first for South Korea in privately-led offshore projects. By 2025, it will supply green electricity to 60,000 households, showcasing an innovative energy partnership model.
en_11401164540
South Korea Launches 96 MW Offshore Wind Farm Led by CIP and SK Innovation
The Jeonnam 1 wind farm, with a capacity of 96 MW, marks a first for South Korea in privately-led offshore projects. By 2025, it will supply green electricity to 60,000 households, showcasing an innovative energy partnership model.
en_11401164540
The Netherlands and the United Kingdom connected through a 2 GW wind project
The LionLink project, a hybrid interconnector developed by TenneT and NGV, will link the Dutch and UK electricity grids through the Nederwiek 3 offshore wind farm, ensuring 2-gigawatt capacity and strengthening energy security in Europe.
en_11401165540
The Netherlands and the United Kingdom connected through a 2 GW wind project
The LionLink project, a hybrid interconnector developed by TenneT and NGV, will link the Dutch and UK electricity grids through the Nederwiek 3 offshore wind farm, ensuring 2-gigawatt capacity and strengthening energy security in Europe.
en_11401165540
Texas faces electricity prices fluctuating from -$10 to $82 per MWh
Texas experiences dramatic electricity price fluctuations driven by record winds and a cold wave, disrupting energy networks and natural gas markets across the region.
en_11401159540
Texas faces electricity prices fluctuating from -$10 to $82 per MWh
Texas experiences dramatic electricity price fluctuations driven by record winds and a cold wave, disrupting energy networks and natural gas markets across the region.
en_11401159540

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.
Canada: Nova Scotia Invests $224 Million in a Wind Farm with 13 Indigenous Partners
A wind farm project at Goose Harbour Lake secures $224.2 million to produce 168 MW of electricity, including participation from 13 Indigenous communities. This project supports Nova Scotia's energy transition and local economy.
en_11401155540
Canada: Nova Scotia Invests $224 Million in a Wind Farm with 13 Indigenous Partners
A wind farm project at Goose Harbour Lake secures $224.2 million to produce 168 MW of electricity, including participation from 13 Indigenous communities. This project supports Nova Scotia's energy transition and local economy.
en_11401155540
The EU approves a €998 million acquisition in offshore wind energy
The European Commission has approved a joint acquisition between EEW Holding and Sumitomo, valued at €998 million, aimed at supporting the production of components for offshore wind farms.
en_11401134540
The EU approves a €998 million acquisition in offshore wind energy
The European Commission has approved a joint acquisition between EEW Holding and Sumitomo, valued at €998 million, aimed at supporting the production of components for offshore wind farms.
en_11401134540
Empire Wind 1 secures $3 billion financing in the United States
The offshore wind project Empire Wind 1 by Equinor, located off the coast of New York, has secured $3 billion in financing. This key initiative is expected to supply electricity to 500,000 households by 2027, strengthening the United States' renewable energy position.
en_11401113540
Empire Wind 1 secures $3 billion financing in the United States
The offshore wind project Empire Wind 1 by Equinor, located off the coast of New York, has secured $3 billion in financing. This key initiative is expected to supply electricity to 500,000 households by 2027, strengthening the United States' renewable energy position.
en_11401113540

The United States Orders Enel to Dismantle a 150 MW Wind Farm

A U.S. court demands the removal of the Smokey Hills wind farm, located on Osage tribal lands, citing illegal operations and imposing a $300,000 fine.
Italy, United States, and Africa Confirm 1342 MW in New Wind Energy Orders with Vestas
Vestas secures 1342 MW of wind energy orders across Europe, the United States, and Africa, driving renewable energy expansion globally.
en_11401104540
Italy, United States, and Africa Confirm 1342 MW in New Wind Energy Orders with Vestas
Vestas secures 1342 MW of wind energy orders across Europe, the United States, and Africa, driving renewable energy expansion globally.
en_11401104540
Kazakhstan improves energy production with 228 million kWh from Shelek Wind Farm
With 228 million kWh generated in 2024, the Shelek Wind Farm contributes to diversifying Kazakhstan's energy sources in the context of energy transition.
en_11401068540
Kazakhstan improves energy production with 228 million kWh from Shelek Wind Farm
With 228 million kWh generated in 2024, the Shelek Wind Farm contributes to diversifying Kazakhstan's energy sources in the context of energy transition.
en_11401068540
Eversource acquire 26 acres to connect renewable energy
Eversource, targets a strategic 26-acre site in Mystic to interconnect renewable energy sources and strengthen the New England power grid.
en_11401072540
Eversource acquire 26 acres to connect renewable energy
Eversource, targets a strategic 26-acre site in Mystic to interconnect renewable energy sources and strengthen the New England power grid.
en_11401072540

Russia opens a Rosatom factory for 450 wind turbine blades in Ulyanovsk

A Rosatom factory in Ulyanovsk will produce 450 wind turbine blades annually, strengthening Russia's industrial capacity and supporting the development of the country's largest wind farm.
British Columbia signs 30-year contract for a 160 MW wind farm
British Columbia bets on the K2 wind project, a partnership between the Westbank First Nation and Innergex, with a 30-year contract to produce 500 GWh of clean energy annually.
en_11401050540
British Columbia signs 30-year contract for a 160 MW wind farm
British Columbia bets on the K2 wind project, a partnership between the Westbank First Nation and Innergex, with a 30-year contract to produce 500 GWh of clean energy annually.
en_11401050540
France awards two wind farm projects in the Mediterranean with €800 million investment
The French government has selected two consortia to construct floating wind farms in the Mediterranean, targeting a combined capacity of 500 MW with an estimated investment of €800 million.
en_11401055540
France awards two wind farm projects in the Mediterranean with €800 million investment
The French government has selected two consortia to construct floating wind farms in the Mediterranean, targeting a combined capacity of 500 MW with an estimated investment of €800 million.
en_11401055540
Canada records a 2.4% increase in electricity production in October
Driven by wind energy and fossil fuels, Canada’s electricity production rose by 2.4% in October, despite the persistent impact of a drought limiting hydropower generation.
en_11401031540
Canada records a 2.4% increase in electricity production in October
Driven by wind energy and fossil fuels, Canada’s electricity production rose by 2.4% in October, despite the persistent impact of a drought limiting hydropower generation.
en_11401031540

Germany welcomes two wind farms with 36 MW acquired by Encavis

Encavis acquires two wind farms under construction in Germany, in Bonnhagen and Roitzsch, with a combined capacity of 36 MW. This operation aims to strengthen the national energy portfolio.
The United States approves a 2.4 GW offshore wind project in Massachusetts
The Biden-Harris administration has approved an offshore wind project in Massachusetts, targeting 2.4 GW capacity to power 840,000 homes.
en_11401000540
The United States approves a 2.4 GW offshore wind project in Massachusetts
The Biden-Harris administration has approved an offshore wind project in Massachusetts, targeting 2.4 GW capacity to power 840,000 homes.
en_11401000540
Germany modernizes its wind farms with tripled capacity
Novo Holdings and European Energy are modernizing 17 wind farms in Germany to triple their capacity to 1,100 GWh per year, supporting the energy transition and meeting growing demand.
en_1140999540
Germany modernizes its wind farms with tripled capacity
Novo Holdings and European Energy are modernizing 17 wind farms in Germany to triple their capacity to 1,100 GWh per year, supporting the energy transition and meeting growing demand.
en_1140999540
Scotland Adds 195 MW of Wind Energy and Storage Capacity with Boralex
Boralex enters a partnership in Scotland to develop a 145 MW wind energy project and a 50 MW energy storage system, strengthening the UK's renewable energy landscape.
en_1140997540
Scotland Adds 195 MW of Wind Energy and Storage Capacity with Boralex
Boralex enters a partnership in Scotland to develop a 145 MW wind energy project and a 50 MW energy storage system, strengthening the UK's renewable energy landscape.
en_1140997540

France: VALOREM and its partners finance an 18.9 MW wind farm in Lavausseau

In Nouvelle-Aquitaine, VALOREM, Bpifrance, and Crédit Agricole announce funding for an 18.9 MW wind farm in Lavausseau. The project aims to produce 43 GWh annually, supporting the region's energy transition.
Copenhagen Infrastructure Partners invests in a 495 MW wind project in Canada
Copenhagen Infrastructure Partners (CIP) acquires a majority stake in a 495 MW wind project in Canada, with economic impact and a strategy focused on green hydrogen for Europe.
en_1140933540
Copenhagen Infrastructure Partners invests in a 495 MW wind project in Canada
Copenhagen Infrastructure Partners (CIP) acquires a majority stake in a 495 MW wind project in Canada, with economic impact and a strategy focused on green hydrogen for Europe.
en_1140933540
700 million euros invested to connect offshore wind farms to the French power grid
A 700-million-euro project aims to connect two offshore wind farms to the national power grid, strengthening strategic energy infrastructure in France.
en_1140947540
700 million euros invested to connect offshore wind farms to the French power grid
A 700-million-euro project aims to connect two offshore wind farms to the national power grid, strengthening strategic energy infrastructure in France.
en_1140947540
Ørsted sells 50% of Greater Changhua 4 Offshore Wind Farm to Cathay Life Insurance
Ørsted announces an agreement with Cathay Life Insurance to sell 50% of the Greater Changhua 4 Offshore Wind Farm under construction in Taiwan, marking a key step in their strategic energy partnership.
en_1140929540
Ørsted sells 50% of Greater Changhua 4 Offshore Wind Farm to Cathay Life Insurance
Ørsted announces an agreement with Cathay Life Insurance to sell 50% of the Greater Changhua 4 Offshore Wind Farm under construction in Taiwan, marking a key step in their strategic energy partnership.
en_1140929540

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS