{"id":91357,"date":"2024-11-10T00:00:00","date_gmt":"2024-11-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/10\/ebrd-mulling-usd-200-mn-loan-for-acwa-hassan-allam-utilities-egypt-wind-farm\/"},"modified":"2024-11-10T00:00:00","modified_gmt":"2024-11-10T00:00:00","slug":"ebrd-mulling-usd-200-mn-loan-for-acwa-hassan-allam-utilities-egypt-wind-farm","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/10\/ebrd-mulling-usd-200-mn-loan-for-acwa-hassan-allam-utilities-egypt-wind-farm\/","title":{"rendered":"EBRD mulling USD 200 mn loan for Acwa + Hassan Allam Utilities\u2019 Egypt wind farm"},"content":{"rendered":"

Acwa\u2019s Gulf of Suez wind farm close to securing 20% of its total funding: <\/strong>Renewables giant Acwa Power and Egypt\u2019s Hassan Allam Utilities (HAU) are in talks with the European Bank of Reconstruction and Development (EBRD) over a proposed USD 200 mn loan to help finance the consortium\u2019s USD 1.06 bn mega wind farm planned for the Gulf of Suez in Egypt, according to a project summary<\/a> from the development bank. No further details about the terms of the financing were provided.<\/p>\n

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

This isn\u2019t the only piece of financing the consortium is hoping to finalize by the end of <\/strong>this year: <\/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 Gulf of Suez, a source with knowledge of the matter told EnterpriseAM<\/a> in September.<\/p>\n

The details:<\/strong> When operational, the project will offset 2.2 mn tons of carbon dioxide annually and produce enough power for nearly 1.1 mn households. The wind farm\u2019s 1.1 GW capacity will mark it as the largest wind project in both Africa and the Middle East.<\/p>\n

Background: <\/strong>The consortium signed a 25-year land usufruct agreement<\/a> with the New and Renewable Energy Authority for the wind farm in January. Commercial operations are set to begin by the end of 2026, according to a statement released at the time.<\/p>\n","protected":false},"excerpt":{"rendered":"

When operational, the project will offset 2.4 mn tons of carbon dioxide annually<\/p>\n","protected":false},"author":1,"featured_media":91358,"comment_status":"","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":[3386],"tags":[448,583,2425,10,3385,3114,451],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-91357","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development-finance","tag-acwa-power","tag-development-finance","tag-energy","tag-enterpriseam-ksa","tag-european-bank-for-reconstruction-and-development-ebrd","tag-hassan-allam-utilities","tag-renewables","wpautop","entry"],"acf":{"mongo_id":"fd7be735-d54a-495c-8774-5fd15f2278d7","order":"5","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 mulling USD 200 mn loan for Acwa + Hassan Allam Utilities\u2019 Egypt wind farm","related_issue":[91348],"teaser":"When operational, the project will offset 2.4 mn tons of carbon dioxide annually","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.16cf453d-4cfe-4042-b704-c3ca28c2ac04.mp3"},"yoast_head":"\nEBRD mulling USD 200 mn loan for Acwa + Hassan Allam Utilities\u2019 Egypt wind farm - 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