Project Notice |
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| PNR | 62785 |
| Project Name | Ras Ghareb Windfarm |
| Project Detail | Location: Egypt Project number: 53097 Business sector: Energy Notice type: Private Environmental category: A Approval date: 17 Jul 2024 Status: Concept Reviewed PSD disclosed: 12 Jun 2024 Project Description Provision of a long-term senior loan of up to USD 71.7 million (EUR 66.2 million) to finance the development and construction of a 200 MW onshore wind farm in Ras Ghareb located in the Gulf of Suez region. The Project will sell the produced power to the Egyptian Electricity Transmission Company (EETC) under a long term power purchase agreement backed by a sovereign guarantee from the Ministry of Finance. Project Objectives The Project will further promote private sector participation in the Egyptian power sector and increase the share of renewable energy in the energy mix in line with the nationally declared targets. The Project is expected to improve the environmental characteristics of Egypts power sector by reducing emissions of local pollutants and CO2, as well as water consumption. The Project will be among the very first to be delivered under the 10 GW renewable program of the Bank-led Energy Pillar of the Nexus Water-Food-Energy Programme (NWFE) initiative, a major policy engagement developed by the Bank on behalf of the Government of Egypt that was announced at COP27 in Sharm El Sheikh. |
| Funded By | European Bank for Reconstruction and Development (EBRD) |
| Sector | Energy & Power |
| Country | Egypt , Northern Africa |
| Project Value | EGP 214,750,000 |
Contact Information |
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| Company Name | MASDAR IPH WIND SAE |
| Web Site | https://www.ebrd.com/work-with-us/projects/psd/53097.html |
