- Alcazar Energy Partners (AEP) has signed a share sale and purchase agreement (SPA) with Siemens Gamesa Renewable Energy (SGRE) to formalise their partnership.
- The development of the NIAT wind project will directly benefit Egypt’s economy and its goal of reaching a 42 per cent renewable electricity generation mix by 2030.
Alcazar Energy Partners (AEP), a leading independent infrastructure fund manager focused on utility-scale renewable energy projects in growth markets, has signed a share sale and purchase agreement (SPA) with Siemens Gamesa Renewable Energy (SGRE) to formalise their partnership and join the NIAT wind farm as equity partner for its final development, construction, and operation.
Upon completion of the transaction and required approvals, Alcazar Energy will assume full ownership and operational responsibility for the project.
Siemens Gamesa, which initiated and advanced the project, will continue as a strategic partner during the final stages of development and is anticipated to provide turbine technology and related services under the partnership framework.
This builds on AEP’s existing commitment to developing high-quality and reliable renewable energy in Egypt and across the MENA region. The development of the NIAT wind project will directly benefit Egypt’s economy and its goal of reaching a 42 per cent renewable electricity generation mix by 2030.
Once fully operational, the project is expected to generate up to 2.5 TWh of clean electricity, avoid over 1.2 million tpy of CO2-equivalent emissions and produce enough clean energy to power up to 280,000 households.
AEP and SGRE will collaborate closely during the advanced development phase, combining their respective technical, commercial, and execution expertise to progress the project towards financial close and construction.
The project, which will create up to 2500 jobs during construction and operation, has already received strong interest from several development financial institutions. Together, AEP and SGRE aim to deliver a high-quality, utility-scale wind project that supports Egypt’s renewable energy objectives.
Daniel Calderon, Co-Founder and Managing Partner of AEP, commented, “Siemens Gamesa has played a central role in installing large-scale wind projects across the region, and we are pleased to partner with them once again as we advance the NIAT wind farm. This project is an important contribution to Egypt’s clean energy transition and a strong addition to AEP’s growing portfolio. We are also pleased to draw on Siemens Gamesa’s expertise as we work to deploy their turbine technology in the country.”
AEP has been an active contributor to Egypt’s renewable energy sector since 2014, becoming the largest equity investor in the landmark Benban solar park.
AEP developed four projects within the Benban complex, delivering a combined capacity of 256 megawatts peak (MWp).
In November 2024, AEP signed an agreement with the Government of Egypt, represented by the Prime Minister and the Minister of Electricity and Renewable Energy, together with the Egyptian Electricity Transmission Company (EETC) and the New and Renewable Energy Authority (NREA) for the development of a 2 GW onshore wind platform in Egypt, marking a significant milestone in the country’s renewable energy expansion.