The African Development Bank (AfDB) has been awarded the prestigious “Infrastructure Deal of the Year” for 2025 by The African Banker Awards, recognizing its pivotal role in financing the continent’s largest wind energy project, the 1.1 GW Suez Wind Power Project in Egypt.
The announcement was made during the AfDB Group’s 2025 Annual Meetings held in Abidjan, Côte d’Ivoire, underscoring the Bank’s leadership and innovative financing approach in mobilizing $140 million towards the project’s $1.04 billion budget.
Situated in the Gulf of Suez, the wind farm is being developed by Suez Wind Energy S.A.E., a special-purpose vehicle formed by ACWA Power and HAU Energy B.V., a consortium comprising Hassan Allam Utilities, Meridiam, and the European Bank for Reconstruction and Development (EBRD), with additional equity from the Oman Investment Authority and Egypt’s Sovereign Fund.
The project will deploy 138 Envision turbines, each rated at 8 MW, marking the first deployment of this advanced wind technology in Africa.
Rania A. Al-Mashat, Egypt’s Minister of Planning, Economic Development & International Cooperation, highlighted the significance of the project, stating, “The Suez 1.1 GW Wind Power Plant Project stands as a powerful example of what national commitment and strong partnerships can achieve. As the largest wind energy project in Egypt and one of the largest in Africa, it reflects the strength of Egypt’s Country Platform under the NWFE program’s energy pillar.”
Scheduled to become operational in 2027, the Suez Wind Farm is expected to produce approximately 4,111 GWh of clean electricity annually, enough to power over one million households.
The project will also cut carbon emissions by an estimated 1.71 million tons of CO₂ each year, significantly contributing to Egypt’s environmental goals.
Beyond its environmental benefits, the project will generate employment opportunities, creating 1,425 full-time and 315 part-time jobs during its construction phase, with a deliberate emphasis on youth employment and gender inclusion.
This milestone project highlights the critical role of innovative financing and partnerships in advancing Africa’s renewable energy agenda.
