Egypt’s Suez wind project wins 2 regional deal awards

Egypt’s Ministry of Planning, Economic Development and International Cooperation announced that the 1.1-gigawatt Suez wind power plant, developed by a consortium of local and international private sector partners, has won two major international awards.

The project was named Infrastructure Deal of the Year by African Banker magazine, with its financing backed by a coalition of international and regional lenders, including the African Development Bank, OPEC Fund for International Development, European Bank for Reconstruction and Development (EBRD), British International Investment (BII), Germany’s DEG, and the Arab Petroleum Investments Corporation (APICORP).

In addition, EMEA Finance awarded the project Best Power Deal in Egypt and Africa in recognition of a $300 million financing initiative led by Hassan Allam Utilities, France’s Meridiam, and the EBRD.

The Suez wind plant is the largest of its kind in Egypt and one of the largest in Africa. Once operational, it is expected to generate 4,111 gigawatt-hour annually — enough to supply over one million households with clean, affordable, and reliable energy. The project will also reduce annual carbon dioxide emissions by 1.71 million tons, supporting Egypt’s commitments under the Paris Agreement on climate change.

Attribution: Amwal Al Ghad English
Subediting: M. S. Salama