Agreement signed to acquire 51% of 545 MW wind power stations in Ras Gharib city

Maersk International has signed a preliminary agreement with the Egyptian government to acquire 51% of the 545 MW wind power stations in the Zaafarana complex, Ras Gharib city, Red Sea governorate, Egypt.

Maersk's acquisition is part of a broader initiative involving a US$15 billion investment in a clean fuel project. This project aims to utilize energy generated from a wind farm to produce environmentally friendly fuel. The company has secured a land plot in Ain Sokhna through an agreement with the Suez Canal Economic Zone. They plan to establish a clean fuel facility utilizing water, food waste, and other materials. Maersk is currently negotiating to acquire the Gabel El-Zeit wind power plant as part of the government's tender program, involving 32 companies.

This project is a collaborative effort with the Spanish government. It includes three stations: "Gabal El-Zeit 1" with a capacity of 240 MW, "Gabal El-Zeit 2" with 220 MW capacity, and "Gabal El-Zeit 3" with 120 MW capacity.

The plant will be connected to the grid over two phases with full commercial operation planned in Q3 2025.