{"id":584857,"date":"2023-04-06T00:00:00","date_gmt":"2023-04-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/06\/500-mw-gulf-of-suez-wind-farm-signs-financial-agreement\/"},"modified":"2023-04-06T00:00:00","modified_gmt":"2023-04-06T00:00:00","slug":"500-mw-gulf-of-suez-wind-farm-signs-financial-agreement","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/06\/500-mw-gulf-of-suez-wind-farm-signs-financial-agreement\/","title":{"rendered":"500-MW Gulf of Suez wind farm signs financial agreement"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">ENERGY-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">It\u2019s official: The 500-MW Gulf of Suez wind farm has reached financial close<\/span><span style=\"\"> a<\/span><span style=\"\">fter <\/span><span>the consortium working on the project yesterday signed the final agreement with its financial backers, cabinet said in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0V4uUnq6XRsdjr2wWo31NC6PYD9GgENzsLe5d6bAsURbwVbjZnzoh18AeNbDjTJfsl\" style=\"\">a statement<\/a><\/span><span>.  Representatives of the Red Sea Wind Energy consortium \u2014 which includes which includes Orascom Construction, France\u2019s Engie, and Japan\u2019s Toyota Tsusho and Eurus Energy \u2014 inked the agreement with the syndicate of Japanese and European lenders among which are the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ebrd.com\/news\/2023\/ebrd-and-gcf-to-support-largest-wind-farm-in-africa.html\" style=\"\">European Bank for Reconstruction and Development<\/a><\/span><span> (EBRD) and the Japan Bank for International Cooperation (JIBC). The consortium first <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cb00b86f-4ae5-481f-acaa-548cf1bebd96\" style=\"\">announced the closing<\/a><\/span><span style=\"font-weight:400;\"> on Monday.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">About the project:<\/span><span style=\"\">The USD 680 mn project is s<\/span><span style=\"\">lated to become Africa\u2019s largest wind <\/span><span style=\"\">facility <\/span><span style=\"font-weight:400;\">when it begins operating at full capacity in 3Q 2025. Situated at Ras Ghareb, the project will supply renewable energy to over 800k homes and lower carbon emissions by around 1 mn tons per year.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The consortium behind the project reached financial close on Monday<\/p>\n","protected":false},"author":1,"featured_media":584858,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[111,93,6330,72,6958,363,151,2263],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-584857","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-energy","tag-engie","tag-enterpriseam","tag-eurus-energy","tag-orascom-construction","tag-renewables","tag-toyota-tsusho","wpautop","entry"],"acf":{"mongo_id":"e65bdd83-a3be-4bf7-a585-c8456ab845bd","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/4\/278.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt Red Sea wind farm signs financial agreement","related_issue":[584836],"teaser":"The consortium behind the project reached financial close on Monday","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/4\/.3b06989e-847a-4b78-b316-135f1d267a54.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>500-MW Gulf of Suez wind farm signs financial agreement - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/06\/500-mw-gulf-of-suez-wind-farm-signs-financial-agreement\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"500-MW Gulf of Suez wind farm signs financial agreement\" 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&quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/4\/116.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":658458,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/12\/orascom-construction-engie-toyota-tsusho-and-eurus-energy-kick-off-commercial-operations-at-ras-ghareb-wind-farm\/","url_meta":{"origin":584857,"position":1},"title":"Orascom Construction, Engie, Toyota Tsusho, and Eurus Energy kick off commercial operations at Ras Ghareb wind farm","author":"enterpriseam admin","date":"12 January 2025","format":false,"excerpt":"The 650 MW wind farm is set to reduce carbon emissions by 1.3 mn tons annually","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/1\/534.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":627095,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/19\/eetc-inks-contracts-for-500-mw-gulf-of-suez-wind-farm-with-orascom-construction-engie-toyota-tsusho\/","url_meta":{"origin":584857,"position":2},"title":"EETC inks contracts for 500 MW Gulf of Suez wind farm with Orascom Construction, Engie, Toyota Tsusho","author":"enterpriseam admin","date":"19 July 2018","format":false,"excerpt":"Gov\u2019t inks contract with OC-led consortium for USD 650 mn, 500 MW Gulf of Suez wind farm: The Egyptian Electricity Transmission Company (EETC) signed a USD 650 mn agreement with a consortium comprised of Orascom Construction (OC), Engie, and Toyota Tsusho Corporation to build a 500 MW wind farm in\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":636022,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/12\/19\/orascom-construction-consortium-reached-financial-close-for-250-mw-boo-wind-farm\/","url_meta":{"origin":584857,"position":3},"title":"Orascom Construction consortium reached financial close for 250 MW BOO wind farm","author":"enterpriseam admin","date":"19 December 2017","format":false,"excerpt":"An Orascom Construction consortium with Engie and Toyota Tsusho Corporation \/ Eurus Energy Holdings Corp. has reached financial close for a 250 MW build-own-operate (BOO) wind farm in Ras Ghareb. Orascom Construction has a 20% stake in the project. Orascom says \u201cnon-recourse project financing is provided by The Japan Bank\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":634101,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/04\/siemens-gamesa-to-supply-wind-turbines-for-ras-ghareb\/","url_meta":{"origin":584857,"position":4},"title":"Siemens Gamesa to supply wind turbines for Ras Ghareb","author":"enterpriseam admin","date":"4 January 2018","format":false,"excerpt":"Siemens Gamesa Renewable Energy will supply turbines producing 262.5 MW to Ras Ghareb Wind Energy\u2019s Gulf of Suez wind farm, Renews reports. The agreement \u201ccovers supply and commissioning of 125 G97-2.1 MW machines, as well as maintenance for 15 years once the project is operational.\u201d The project\u2019s installation is set\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":573515,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/09\/ebrd-to-provide-long-term-loan-to-egypt-for-large-wind-plant-in-gulf-of-suez\/","url_meta":{"origin":584857,"position":5},"title":"EBRD to provide long-term loan to Egypt for large wind plant in Gulf of Suez","author":"enterpriseam admin","date":"9 August 2020","format":false,"excerpt":"The EBRD has approved a USD 50 mn long-term loan to help finance a USD 560 mn, 500 MW wind power plant in the Gulf of Suez. The plant, which will be located approximately 40 km northwest of Ras Ghareb, will be one of the largest privately-built wind plants in\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/584857","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=584857"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/584857\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/584836"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/584858"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=584857"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=584857"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=584857"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=584857"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=584857"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}