EBRD plans to extend $200mn financing for Egypt wind projects

The European Bank for Reconstruction and Development (EBRD) is considering providing up to $200mn in senior loans to support the construction and development of 500MW of onshore wind capacity in Egypt, Renewables Now reported on May 25. 

The move further strengthens the North African country’s transition towards renewable energy. Egypt has accelerated renewable energy development in recent years as part of its broader strategy to diversify energy sources and reduce dependence on conventional fuels. Under its updated Integrated Sustainable Energy Strategy, the country aims to generate over 42% of its electricity from renewable sources by 2030 and 60% by 2040, driven by its solar, wind, and expanding green hydrogen infrastructure. 

The proposed EBRD financing would support projects being developed by Luxembourg-based renewable energy investor Alcazar Energy Partners (AEP), which has maintained an active presence in Egypt’s renewable sector for more than a decade. Alcazar expanded its presence in the market in November 2025 by acquiring a separate 500 MW wind project in Egypt that had originally been developed by Siemens Gamesa Renewable Energy.

Under the proposal, the EBRD may provide up to $100mn in financing to each of two special-purpose entities owned by AEP. The entities are responsible for the NIAT and Rasgha wind projects, both located in Ras Ghareb on Egypt’s Red Sea coast. Each project is expected to generate 250MW of electricity, bringing the combined capacity to 500MW.

Electricity generated by the wind farms will be sold to the Egyptian Electricity Transmission Company (EETC) under a long-term power purchase agreement lasting 25 years.