{"id":657642,"date":"2024-12-24T00:00:00","date_gmt":"2024-12-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/24\/ebrd-greenlights-usd-275-mn-loan-for-gulf-of-suez-mega-wind-farm\/"},"modified":"2024-12-24T00:00:00","modified_gmt":"2024-12-24T00:00:00","slug":"ebrd-greenlights-usd-275-mn-loan-for-gulf-of-suez-mega-wind-farm","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/24\/ebrd-greenlights-usd-275-mn-loan-for-gulf-of-suez-mega-wind-farm\/","title":{"rendered":"EBRD greenlights USD 275 mn loan for Gulf of Suez mega wind farm"},"content":{"rendered":"

EBRD greenlit USD 275 mn loan for Gulf of Suez mega wind farm: <\/strong>The European Bank for Reconstruction and Development (EBRD) approved a USD 275 mn syndicated loan to Saudi renewables giant ACWA Power and Hassan Allam Utilities\u2019 1.1 GW wind farm<\/a> in the Gulf of Suez \u2014 the largest wind project in both Africa and the Middle East, according to two separate statements from the Planning Ministry statement<\/a> and the multilateral development bank<\/a>. <\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

We knew this was coming:<\/strong> We first heard about the loan back in November<\/a>, when the two companies were said to be in talks with the EBRD over the funding. <\/p>\n

Everyone is pitching in: <\/strong>The EBRD is contributing USD 200 mn and the remaining USD 75 mn will be coming from Arab Bank (USD 60 mn) and Standard Chartered (USD 15 mn). The USD 1.1 bn project is also backed by a USD 170 mn loan<\/a> from the African Development Bank, a USD 40 mn loan<\/a> from the OPEC Fund for International Development, the British International Investment, Deutsche Investitions und Entwicklungsgesellschaft, and the Arab Petroleum Investments Corporation (APICORP). <\/p>\n

More to come? <\/strong>The two companies are reportedly set to secure close to USD 900 mn in financing by the end of the year for their 1.1 GW wind farm in the Gulf of Suez, a source with knowledge of the matter told EnterpriseAM<\/a> in September. <\/p>\n

What we know about the project: <\/strong>When operational, the project will be a big boost to our energy production and green transition targets, with the project set to offset 2.2 mn tons of carbon dioxide annually and produce enough power for nearly 1.1 mn households. <\/p>\n","protected":false},"excerpt":{"rendered":"

EBRD is contributing USD 200 mn and the remaining USD 75 mn will be coming from Arab Bank and Standard Chartered<\/p>\n","protected":false},"author":1,"featured_media":657643,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[7207],"tags":[1042,571,93,72,151],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-657642","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-acwa-power","tag-ebrd","tag-energy","tag-enterpriseam","tag-renewables","wpautop","entry"],"acf":{"mongo_id":"2b6f07c4-8220-479a-9143-33611ee73012","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/2088.jpg","photo_position":"above","homepage_title":"","full_issue_title":"EBRD greenlights USD 275 mn loan for Gulf of Suez mega wind farm","related_issue":[657631],"teaser":"EBRD is contributing USD 200 mn and the remaining USD 75 mn will be coming from Arab Bank and Standard Chartered","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.4a378b77-d6bc-4ab4-9baa-76ffdd12ac7d.mp3"},"yoast_head":"\nEBRD greenlights USD 275 mn loan for Gulf of Suez mega wind farm - 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\/2024\/12\/24\/ebrd-greenlights-usd-275-mn-loan-for-gulf-of-suez-mega-wind-farm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EBRD greenlights USD 275 mn loan for Gulf of Suez mega wind farm\" \/>\n<meta property=\"og:description\" content=\"EBRD is contributing USD 200 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Through a special purpose vehicle\u2026","rel":"","context":"In "Energy"","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":658174,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/06\/hassan-allam-and-acwa-power-get-government-approval-for-1-1-gw-gulf-of-suez-wind-farm\/","url_meta":{"origin":657642,"position":4},"title":"Hassan Allam and ACWA Power get government approval for 1.1 GW Gulf of Suez wind farm","author":"enterpriseam admin","date":"6 January 2025","format":false,"excerpt":"The wind farm\u2019s 1.1 GW capacity will mark it as the largest wind project in both Africa and the Middle East","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1515.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577087,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/09\/egypt-has-just-lined-up-as-much-as-25-gw-worth-of-wind-projects\/","url_meta":{"origin":657642,"position":5},"title":"Egypt has just lined up as much as 25 GW worth of wind projects","author":"enterpriseam admin","date":"9 November 2022","format":false,"excerpt":"Egypt lined up commitments for up to another 15 GW of wind power yesterday, bringing to 25 GW the total new wind-power generation capacity it has locked in recent days. 25 GW: That\u2019s A LOT of power. It\u2019s almost half of the country\u2019s current installed capacity, which at the end\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/145.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/657642","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=657642"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/657642\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/657631"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/657643"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=657642"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=657642"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=657642"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=657642"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=657642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}