Financing received for 200 MW Onshore Wind Farm in Egypt
The European Bank for Reconstruction and Development (EBRD) delivers a US$74.1 million financing package for Infinity Power’s 200 MW wind farm in Ras Ghareb, Egypt.
The package includes an EBRD senior loan of up to US$60.7 million, a concessional loan of up to US$3.38 million from the Green Climate Fund (GCF) and an investment grant of up to US$10 million.
The EBRD is the principal development partner for Egypt’s flagship Nexus on Water, Food and Energy (NWFE) initiative and is acting as a lead institution on the Ras Ghareb project, marshalling resources from GCF, the Japan International Cooperation Agency (JICA) and Proparco to bring the wind farm to fruition. The construction of the Ras Ghareb wind farm will start in the coming weeks. On completion, it will make a notable contribution towards Egypt’s goal of achieving 10 GW of renewable energy capacity by 2028 under the NWFE programme.
Once operational, the wind farm is expected to reduce the country’s annual CO2 emissions by 390,000 tonnes. In addition, the project will enhance skills development and employment prospects by launching a certified internship programme for young engineers in the region, with a particular focus on empowering women to participate in the burgeoning energy sector.
Country news
-
-
June 24, 2025
Financial close reached for 1.1 GW hybrid solar and battery storage project in Egypt
Scatec ASA has reached financial close for the 1.1 GW “Obelisk” hybrid solar and battery storage project in Egypt.
Read more -
June 16, 2025
500 MW Onshore Wind Project Commissioned in Egypt
AMEA Power announced the successful commissioning of its 500 MW Wind Power Plant located in Ras Ghareb in the Red Sea Governorate, Egypt.
Read more -
March 19, 2025
PPA signed for 1.1 GW solar + BESS project in Egypt
Scatec ASA signed a 25-year USD-denominated corporate Power Purchase Agreement (PPA) with Egypt Aluminium for a 1.1 GW Solar PV with 100 MW/200MWh BESS project in Egypt.
Read more -
January 07, 2025
ACWA Power secures financing for 1.1 GW Onshore wind farm in Egypt
ACWA Power together with consortium partner HAU Energy, a subsidiary of Hassan Allam Utilities, have achieved the financial close for the 1.1GW Suez Wind Farm located in the Gulf of Suez and the Gabal El-Zeit area in Egypt.
Read more -
December 05, 2024
EBRD to support expansion of 650 MW Wind Farm in Egypt
The European Bank for Reconstruction and Development (EBRD) has supported the expansion of the 650 MW Red Sea Wind Farm by extending a US$21.3 million loan to Red Sea Wind Energy.
Read more
