The Red Sea Wind Energy consortium—comprising ENGIE, Orascom Construction, Toyota Tsusho, and Eurus Energy—has announced the full commercial operation of its 650 MW wind farm near Ras Ghareb, Egypt, four months ahead of schedule.

The OPEC Fund for International Development committed $30 million to develop two wind farms with a total capacity of 1.1 gigawatts (GW) in Egypt’s Gulf of Suez region.

The European Bank for Reconstruction and Development (EBRD) has approved a $275 million syndicated loan for a 1.1 GW wind farm project in the Gulf of Suez, developed by Saudi-based ACWA Power and Hassan Allam Utilities.

Egypt has signed two agreements to build a 500-megawatt wind farm in the Gulf of Suez, with investments estimated at $600 million.

AMEA Power to operate $800M wind farm in Egypt next March

The Egyptian Ministry of Electricity is considering sealing an agreement with Abu Dhabi Future Energy Company (Masdar) within the third quarter (Q3) of this year to establish a wind farm.

The European Bank for Reconstruction and Development (EBRD) is considering providing a long-term senior loan of up to $71.7 million to fund the development and construction of a 200-megawatt (MW) onshore wind farm in the Gulf of Suez’s Ras Ghareb region.

The New and Renewable Energy Authority (NREA) and The Sovereign Fund of Egypt (TSFE) are planning to offer the second half of the wind power plants in the Zaafarana complex in the Red Sea for sale to investors within the second half (H2) of 2024.

The Danish shipping and logistics firm Maersk has embarked on the due diligence process on acquiring half of half of the wind power farms in the Zaafarana complex at Ras Ghareb City in the Red Sea.

Infinity Power, in partnership with the UAE’s Masdar, will start the execution of the largest wind power farm project in the first quarter (Q1) of 2025 with investments of $11 billion.

Danish wind turbine manufacturer Vestas has started the trial operation at its 250-megawatt (MW) wind farm in the Gulf of Suez.