Alcazar Energy Signs Deal to Acquire Egypt's 580 MW Gabal El-Zeit Wind Project

Alcazar Energy Partners (AEP) has signed acquisition terms with the New and Renewable Energy Authority (NREA) in respect of the 580 MW Gabel el Zeit Wind Project located in Egypt’s Red Sea Governorate.

The Gabal El-Zeit project consists of three operating wind farms with a combined installed capacity of 580 MW, featuring Siemens Gamesa wind turbines that have been in service for approximately 8–10 years. Under the agreement, AEP will take over the operation and management of the facilities, undertake measures to extend their operational lifespan, and supply electricity to the Egyptian Electricity Transmission Company (EETC) under a 25-year power purchase agreement (PPA).

Positioned in the Gulf of Suez, within one of the world’s strongest wind corridors, the project delivers efficient, sustainable power generation, contributing meaningfully to Egypt’s goal of reaching 45% renewable electricity generation by 2028. The project generates up to 2.4 TWh of clean electricity, avoids over 1.1 million tons of CO2 emissions each year and produces enough clean energy to power over 300,000 households. 

The investment aligns with Egypt’s broader economic agenda and its IMF-backed reform program to increase private sector participation. As the first strategic renewable power asset offered under the privatization framework, Gabal El Zeit marks a key milestone in further mobilizing private capital in the Egyptian electricity sector.