- Alcazar Energy Partners signed an MoU with EETC and NREA to develop a 2 GW onshore wind power project in Egypt, which would power 1.3 million households.
- The project will create up to 12,500 construction jobs and 1,170 full-time operational positions while reducing CO2 emissions by 4.7 million tons annually.
- The wind farm aligns with Egypt’s 2030 Vision, advancing the country’s renewable energy goals and environmental sustainability.
Alcazar Energy Partners has signed a Memorandum of Understanding (MoU) with the Egyptian Electricity Transmission Company (EETC) and the New and Renewable Energy Authority (NREA) to develop a 2 GW onshore wind power project in Egypt.
This agreement marks a significant step in advancing Egypt’s energy transition. Alcazar Energy will support the country’s renewable energy infrastructure through this project. It will generate enough electricity to power 1.3 million households, contributing to Egypt’s renewable energy capacity.
The wind farm will help Egypt meet its environmental sustainability targets. The project will also create substantial economic benefits. During construction, the project will create up to 12,500 jobs. Once operational, it will provide 1,170 full-time positions. Additionally, the project will reduce CO2 emissions by 4.7 million tons annually.
Daniel Calderon, Co-Founder and Managing Partner of Alcazar Energy Partners said, “This collaboration with EETC and NREA demonstrates our shared commitment to Egypt’s energy transition.” Calderon added that the partnership would drive large-scale, sustainable infrastructure projects to help Egypt achieve its ambitious renewable energy goals.
The MoU signing took place with Egypt’s Minister of Electricity and Renewable Energy, Dr. Mahmoud Esmat, and Deputy Minister Ms. Sabah Mashaly in attendance. Calderon emphasised that the project would support a cleaner, greener future for Egypt. The partnership aligns with Egypt’s 2030 Vision, which focuses on renewable energy and environmental sustainability.
Alcazar Energy Partners, a Dubai-based sustainable investment manager, has worked in the renewable energy sector since 2014. The company develops and invests in utility-scale renewable energy projects in emerging markets.
In 2018, Alcazar Energy’s first fund, AEP-I, built one of Egypt’s most extensive independent solar portfolios. This year, the company closed its second fund, AEP-II, at USD 490 million. The fund attracted investments from blue-chip public and private investors across North America, Europe, Asia, and the Middle East.
Alcazar Energy has a strong record of developing large-scale renewable projects. The company focuses on climate change mitigation and mobilising capital for renewable energy projects. Alcazar Energy invests in emerging markets and accelerates the global transition to clean energy.
The new wind project will be critical to Egypt’s long-term renewable energy strategy. It will support Egypt’s goals for a sustainable energy future. The project will also boost the economy by creating jobs and reducing carbon emissions.
This partnership between Alcazar Energy, EETC, and NREA demonstrates the growing role of private investment in Egypt’s energy sector. It also underscores the country’s commitment to renewable energy and sustainability. As Egypt nears its renewable energy targets, this project will help the government achieve its 2030 Vision.
Alcazar Energy Partners’ continued investment in Egypt highlights the country’s growing importance as a renewable energy hub in the Middle East and North Africa. The company focuses on developing and operating renewable energy assets in emerging markets. With this wind power project, Alcazar Energy significantly strides toward a cleaner, greener future.