Egypt: the EBRD plans to mobilize 192 million dollars for a 900 MW wind farm.

On August 14, the EBRD announced its intention to contribute to the financing of this project, although the detailed terms and timeline for execution have not been specified in the available information. The bank did not indicate whether the $192 million would be in the form of direct financing, syndicated loans, or resource mobilization from other investors.

With a planned capacity of 900 MW, the wind farm would enhance the electricity supply generated from renewable sources in a country still largely dependent on natural gas. The project is to be carried out within a partnership involving the private sector and foreign energy players.

A target of 42% renewable energy by 2030

Egypt aims to increase the share of renewable energy in its electricity mix to 42% by 2030, and then to 60% by 2040. To achieve these goals, Cairo is focusing on the growth of wind and solar energy, as well as private investments aimed at rapidly boosting production capacities.

The EBRD is among the international institutions committed to financing Egypt’s energy transition. Its involvement particularly aims to facilitate the mobilization of additional capital for infrastructure deemed a priority, while supporting the diversification of the country’s electricity mix.

The announced amount remains below the total expected cost of a wind project of this size. However, the overall funding, ownership structure, installation site, and commissioning date have not yet been communicated.