{"id":658460,"date":"2025-01-12T00:00:00","date_gmt":"2025-01-12T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/12\/acwa-reaches-financial-close-on-usd-1-2-bn-gulf-of-suez-project\/"},"modified":"2025-01-12T00:00:00","modified_gmt":"2025-01-12T00:00:00","slug":"acwa-reaches-financial-close-on-usd-1-2-bn-gulf-of-suez-project","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/12\/acwa-reaches-financial-close-on-usd-1-2-bn-gulf-of-suez-project\/","title":{"rendered":"Acwa reaches financial close on USD 1.2 bn Gulf of Suez project"},"content":{"rendered":"

Acwa reaches financial close on Gulf of Suez wind project:<\/strong> Renewables giant Acwa Power and Hassan Allam Utilities subsidiary HAU Energy reached financial close for their 1.1 GW, USD 1.2 bn mega wind farm in Egypt\u2019s Suez, according to a statement<\/a>. Full commercial operations are set to begin in 2Q 2027.<\/p>\n

More on the funding: <\/strong>The consortium secured a USD 703.6 mn senior debt facility from a group of institutions, including the European Bank for Reconstruction and Development (EBRD), the African Development Bank, the British International Investment Corporation, the German Investment Corporation, the OPEC Fund for International Development, and the Arab Petroleum Investments Corporation. EBRD funding was supported by a B loan structure from Standard Chartered and Arab Bank.<\/p>\n

ICYMI:<\/strong> The EBRD approved a USD 275 mn syndicated loan<\/a> for the project last month. The companies were reportedly set to secure close to USD 900 mn in financing by the close of 2024 for the project.<\/p>\n","protected":false},"excerpt":{"rendered":"

The funding includes a USD 275 mn loan from EBRD<\/p>\n","protected":false},"author":1,"featured_media":658461,"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":[1042,93,72,125,151],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-658460","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-acwa-power","tag-energy","tag-enterpriseam","tag-investment-watch","tag-renewables","wpautop","entry"],"acf":{"mongo_id":"1edb3659-7377-4d20-9ee8-1c7b9c377590","order":"12","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/1\/430.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Acwa reaches financial close on USD 1.2 bn Gulf of Suez project","related_issue":[658439],"teaser":"The funding includes a USD 275 mn loan from EBRD","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/1\/.98c811a4-afd2-4e40-a11c-1a8646ec63c6.mp3"},"yoast_head":"\nAcwa reaches financial close on USD 1.2 bn Gulf of Suez project - 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\/2025\/01\/12\/acwa-reaches-financial-close-on-usd-1-2-bn-gulf-of-suez-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Acwa reaches financial close on USD 1.2 bn Gulf of Suez project\" \/>\n<meta property=\"og:description\" content=\"The funding includes a USD 275 mn loan from EBRD\" \/>\n<meta property=\"og:url\" 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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":[]},{"id":577274,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/16\/the-sfe-could-acquire-10-of-acwa-hassan-allam-wind-farm\/","url_meta":{"origin":658460,"position":3},"title":"The SFE could acquire 10% of ACWA, Hassan Allam wind farm","author":"enterpriseam admin","date":"16 November 2022","format":false,"excerpt":"SFE could invest in 1.1 GW wind farm being developed by ACWA, Hassan Allam: The Sovereign Fund of Egypt (SFE) could acquire a minority stake in ACWA Power\u2019s planned 1.1-GW wind farm in the Gulf of Suez. The wealth fund is considering making an investment in the facility under the\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\/254.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":543900,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/23\/acwa-power-in-advanced-talks-with-sfe-over-wind-farm-in-gulf-of-suez\/","url_meta":{"origin":658460,"position":4},"title":"ACWA Power in advanced talks with SFE over wind farm in Gulf of Suez","author":"enterpriseam admin","date":"23 February 2022","format":false,"excerpt":"ACWA Power in talks over c. 250 MW wind farm: Saudi renewables company ACWA Power is in advanced talks with the Sovereign Fund of Egypt (SFE) to build a c. 250 MW wind farm in the Gulf of Suez, Al Borsa reports, citing unnamed sources who claimed a contract could\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\/2\/333.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":656427,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/04\/afdb-backs-hassan-allam-and-acwas-gulf-of-suez-mega-windfarm-with-usd-170-mn-loan\/","url_meta":{"origin":658460,"position":5},"title":"AfDB backs Hassan Allam and ACWA\u2019s Gulf of Suez mega windfarm with USD 170 mn loan","author":"enterpriseam admin","date":"4 December 2024","format":false,"excerpt":"The loan would fund 16.0% of the entire USD 1.1 bn project","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\/12\/362.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\/658460","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=658460"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/658460\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/658439"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/658461"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=658460"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=658460"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=658460"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=658460"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=658460"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}