| Project Detail |
Location:
Egypt
Project number:
55457
Business sector:
Energy
Notice type:
Private
Environmental category:
A
Approval date:
11 Dec 2024
Status:
Concept Reviewed
English-language PSD published:
07 Nov 2024
Project Description
Provision of senior debt financing on a project finance basis of up to USD 200m (the "Loan") in favour of Suez Wind Energy S.A.E., a special purpose vehicle ("SPV") incorporated in Egypt for the purpose of constructing and operating a 1.1 GW wind farm in the Gulf of Suez region, Egypt (the "Project").
Project Objectives
The Project will support the Egyptian government in achieving its renewable energy targets and will be among the projects delivered under the 10 GW renewable energy capacity objective of the Energy Pillar of the Nexus for Water, Food, Energy ("NWFE").
By providing clean energy at one of the most competitive wind tariffs in the region and beyond, this Project will advance Egypts renewable energy transition while harnessing the exceptional wind resources in the Gulf of Suez. Additionally, the Project is expected to enhance the environmental characteristics of Egypts power sector by reducing emissions of local pollutants and CO2, as well as lowering water consumption. |
