The OPEC Fund for International Development has committed $30 million to co-finance Africa’s largest onshore wind power project in Egypt. This ambitious initiative involves constructing two wind farms, each with a capacity of 550 megawatts (MW), in the Gulf of Suez. Together, these wind farms will generate a total capacity of 1.1 gigawatts (GW), aligning with Egypt’s renewable energy strategy. Led by Suez Wind—a joint venture between ACWA Power and Hassan Allam Utilities—the project will provide clean energy to over one million homes, reducing carbon emissions by approximately 2.5 million tons annually.
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The Gulf of Suez wind farm forms part of Egypt’s Nexus of Water, Food & Energy (NWFE) program, a flagship initiative designed to attract global investment in renewable energy. The program aims to help Egypt generate 10 GW of renewable energy capacity by 2028 and source over 40% of its electricity from renewables by 2035. The wind farm will play a pivotal role in these goals by decarbonizing Egypt’s power sector and supporting commitments under the Paris Agreement.
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The project’s impact on people is substantial. Reliable access to clean electricity will improve living conditions for millions of Egyptians. Schools will benefit from uninterrupted power for evening classes, hospitals will maintain critical operations, and businesses will experience enhanced productivity. This transformation will directly uplift the quality of life for families across the region.
The wind farm’s construction and operation will also create significant job opportunities in manufacturing, installation, maintenance, and management of renewable energy infrastructure. These jobs will stimulate local economies, alleviate poverty, and provide stable employment for many individuals.
From an industry perspective, this project highlights the opportunities for companies involved in renewable energy development. ACWA Power, a leader in clean energy, will gain visibility as a key contributor to this transformative initiative. Additionally, the involvement of multiple international financial institutions underscores the importance of partnerships in advancing large-scale renewable energy projects.
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OPEC Fund President Abdulhamid Alkhalifa emphasized that this investment reflects the organization’s commitment to sustainable development and climate action. He highlighted how global collaboration can deliver impactful solutions for energy transitions and economic growth.
In conclusion, the OPEC Fund’s $30 million investment in Egypt’s Gulf of Suez wind farm signifies more than financial support—it marks a crucial step toward achieving Africa’s sustainable energy goals. By delivering clean electricity, creating jobs, and reducing carbon emissions, this project sets a benchmark for how renewable energy can drive environmental and socioeconomic progress across the continent.
