On Thursday, January 2, 2025, ACWA Power announced that it had completed the financing for the 1.1 GW Suez Wind Farm wind farm project in Egypt with its partner HAU Energy.

ACWA Power's Suez Wind Farm Wind Farm Project, the largest single-contract wind farm in the Middle East, will play an important role in Egypt. It will help the country increase the share of renewable energies in its electricity production and move closer to its energy transition goals.

This project obtained a senior credit facility of USD 703.6 million from a consortium of banks, including the African Development Bank (ADB), which announced on December 3, 2024, that it had approved a loan of up to USD 170 million intended to finance the park.

According to Marco Arcelli, CEO of ACWA Power, “the financial closure for the Suez wind farm marks an important step in Egypt's ambitious renewable energy journey and reinforces ACWA Power's commitment to promoting sustainable development. in the region. This historic project demonstrates the power of collaboration and innovative financing to provide clean and reliable energy on a large scale.”

The project will help the Egyptian government reach its goal of 42% renewable energy in its electricity generation by 2040, by powering 1,080,000 homes with electricity and by helping to eliminate 1.1 million tons of carbon dioxide per year.