EBRD provides $275M for Africa's largest wind farm in Egypt, aiming to boost renewable energy.

The European Bank for Reconstruction and Development (EBRD) is providing a $275 million syndicated loan to support the construction of Africa's largest wind farm in Egypt's Gulf of Suez. The wind farm, a joint venture between ACWA Power and HAU Energy, will have a capacity of 1.1 GW and is expected to reduce CO2 emissions by over 2.2 million tonnes annually. This project is a key part of Egypt's plan to expand renewable energy and meet its goal of generating 42% of its energy from renewables by 2030.

December 24, 2024
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