ACWA Power and HAU Energy secured financing for the 1.1GW Suez Wind Farm in Egypt. This project supports Egypt’s goal of 42% renewable energy by 2040. The Suez Wind Farm stands as the largest single-contracted wind farm in the Middle East.
Investment and Financing Details Achieved
The Suez Wind Farm secured a USD 703.6 million debt facility. Global financial institutions provided this. These include the EBRD and AFDB. This facility supports the USD 1.2 billion investment. The wind farm will consist of 138 turbines. Each turbine has an 8MW capacity and stands 210 meters tall. The project will roll out in two 550MW phases. Full operations will commence by Q2 2027.
Environmental and Economic Impact Expected
The Suez Wind Farm will reduce Egypt’s carbon footprint by 1.1 million tonnes annually. This project diversifies Egypt’s energy mix. It contributes to decarbonization and energy sustainability. The project will drive economic growth. It will create jobs and foster technological advancements. The Suez Wind Farm will significantly contribute to Egypt’s energy transition.
A Model for Sustainable Collaboration Demonstrated
The financing close showcases successful renewable energy collaboration. This project exemplifies innovative financing and public-private partnerships. It ensures clean, reliable power. ACWA Power, with its expertise, will continue to play a pivotal role in Egypt’s renewable energy development. SuperMetalPrice notes the importance of materials used in the construction of such large scale projects.
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