Transforming energy supply in Egypt

Suez Wind, owned by ACWA Power and HAU Energy B.V., is developing a large-scale onshore wind project in Egypt, located in the Gulf of Suez. The project involves the design, construction, operation and maintenance of a 1,100 MW wind farm, positioning it as one of the largest renewable energy developments in the country.

ILX participated in a loan alongside AfDB to support the development of this wind farm. The project delivers significant benefits to Egypt’s energy security, drastically reducing the country’s reliance on domestic natural gas for power generation and enabling the re-allocation of natural gas exports to international markets, thereby bolstering European energy diversification. The investment is fully aligned with climate finance objectives, with 100% of proceeds allocated to renewable energy generation. The project is expected to generate approximately 4,100 GWh of electricity annually and abate around 1.7 million tonnes of CO2 emissions per year.