The European Bank for Reconstruction and Development (EBRD) will provide up to USD 145 million to finance two wind farms in Egypt, together adding 500 megawatts (MW) of renewable energy capacity.

The projects are expected to reduce annual greenhouse gas emissions by approximately 979,700 tonnes of carbon dioxide equivalent.

Structure of the Financing

The EBRD package comprises loans of up to USD 75 million and up to USD 70 million, extended to Niat for Wind Energy and Alcazar Rasgha Energy, respectively. Both borrowing companies are owned by Alcazar Energy Partners II, a clean energy investment fund.

The EBRD is not the only lender involved. Additional financing for the projects will come from the European Investment Bank and from DEG, Germany's development finance institution.

That financing is supported by European Union guarantees, which are designed to encourage private investment in renewable energy.

Location and Timeline

The two wind farms are located near Ras Ghareb on Egypt's Red Sea coast. Each will generate 250 MW, bringing the combined capacity to the 500 MW total. Commercial operations are expected to begin by the end of 2028.

Aims for Egypt's Power Sector

The projects are intended to diversify Egypt's electricity generation, improve energy security, and reduce the country's reliance on imported fossil fuels.

The anticipated annual reduction of nearly one million tonnes of carbon dioxide equivalent is a central environmental benefit cited for the investment.

Siemens Gamesa's Return to the Egyptian Market

The wind farms will also mark the return of Siemens Gamesa Renewable Energy to the Egyptian market. The company will act as both the wind turbine supplier and the operations and maintenance contractor for the projects.

Part of the EU-Egypt Partnership

The investment forms part of the EU-Egypt Strategic and Comprehensive Partnership, which prioritizes renewable energy and sustainable infrastructure. The EBRD has invested more than USD 17.64 billion across 238 projects in Egypt to date.

Other Recent Energy and EBRD Activity in Egypt

The wind farm financing follows other recent developments flagged by the same publication. The Nag Hammadi project is described as combining one gigawatt of solar capacity with a 200-megawatt component, though the source material does not provide further detail on that element.

The Cairo Scene coverage does not specify the loan tenors, interest terms, or the identities of other equity or debt participants in the wind farm projects beyond those named.

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