The OPEC Fund for International Development has committed $30 million to co-finance the construction of Africa’s largest onshore wind farm in Egypt’s Gulf of Suez region.
This project will feature two wind farms with a combined capacity of 1.1 GW, enough to power over one million homes and reduce carbon emissions by approximately 2.5 million tons annually.
The Gulf of Suez Wind Farm, a collaboration between ACWA Power and HAU Energy under the Suez Wind initiative, is a pivotal component of Egypt’s Nexus of Water, Food & Energy (NWFE) program. This flagship initiative promotes renewable energy investments and sustainable development.
The total cost of the project exceeds $1 billion, with co-financing provided by the European Bank for Reconstruction and Development (EBRD), African Development Bank (AfDB), British International Investment (BII), and several other international partners.
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OPEC Fund President Abdulhamid Alkhalifa emphasized the importance of partnerships in driving climate action and sustainable development. “Our $30 million contribution builds on our longstanding collaboration with Egypt and our commitment to supporting energy transitions in our member countries. This project showcases how international cooperation can deliver transformative results,” he said.
The wind farm represents a critical milestone in Egypt’s renewable energy ambitions, aiming to achieve 10 GW of renewable capacity by 2028.
The project will bolster Egypt’s energy independence by reducing reliance on imported fossil fuels, enhancing energy security, and contributing to the nation’s economic growth through job creation during construction and operation phases.
The Gulf of Suez Wind Farm builds on prior collaborations between the OPEC Fund and Egypt, including the Kom Ombo solar plant, which serves 130,000 households, and the Helwan South power plant, which added nearly 2 GW to the national grid. Since 1976, the OPEC Fund has committed over $1.3 billion to more than 85 projects in Egypt, underlining the country’s central role in Africa’s renewable energy transition.
