- BII will invest $300 million in Egypt’s $1.2 billion Gulf of Suez wind farm and its first solar-plus-battery storage project.
- The projects will generate 4,500 GWh annually, cut 2.5M tonnes of CO₂, and support over 10,000 jobs while advancing Egypt’s clean energy goals.
The British International Investment (BII), the UK government’s development finance institution, has committed $300 million to fast-track two major renewable energy projects in Egypt, reinforcing the country’s push for clean and sustainable power.
Meanwhile, BII will invest $190 million in the $1.2 billion Gulf of Suez onshore wind farm, which will become Africa’s largest wind power project. The wind farm will generate 4,500 gigawatt hours (GWh) of electricity annually and cut 2.5 million metric tonnes of carbon dioxide emissions yearly.
BII is part of a consortium providing $704 million in debt financing, alongside the European Bank for Reconstruction and Development (EBRD), the African Development Bank (AfDB), DEG, the German Development Finance Institution, the OPEC Fund for International Development, and the Arab Energy Fund.
The project will create over 10,000 jobs, supporting Egypt’s nexus of water, food, and energy programme and contributing to the country’s sustainable development agenda.
In addition, BII will co-finance Egypt’s first integrated solar photovoltaic (PV) and battery energy storage system (BESS). In partnership with Norway’s Scatec, AfDB, and EBRD, BII will help deliver a $479 million project that includes 1.1 gigawatts (GW) of solar PV capacity and 200 megawatt-hours (MWh) of battery storage. This project will improve grid resilience and support Egypt’s transition to a more reliable, low-carbon energy mix.
With this latest commitment, BII has increased its portfolio in Egypt to over $708 million. The institution is also advancing green hydrogen projects in Morocco and exploring climate-smart agriculture investments in Tunisia.
BII currently backs over 1,470 businesses across 65 emerging economies and manages £8 billion ($11 billion) in total assets. Between 2022 and 2026, it plans to channel at least 30 per cent of its new investment commitments into climate finance, reinforcing its role in driving global climate action and economic transformation.