EBRD Approves USD 275M to Build Africa’s Largest Wind Farm in Suez

The European Bank for Reconstruction and Development (EBRD) has approved a USD 275 million funding plan for the Gulf of Suez wind farm in Egypt, which will become the largest in Africa with a capacity of 1.1 gigawatts (GW). This project is part of the Egyptian government’s broader efforts to increase its reliance on renewable energy, with a goal of deriving 42% of its electricity from clean sources by 2030.

The initiative has attracted investments from key partners, including Hassan Allam Utilities and Meridiam Africa Investments, and other prominent organizations like the African Development Bank, the British and German Development Finance Institutions, the OPEC Fund, and the Arab Petroleum Investments Corporation.

The wind farm is expected to generate more than 4,300 gigawatt-hours (GWh) of electricity annually while also significantly reducing carbon dioxide emissions by over 2.2 million tonnes each year.