Alcazar Energy secures $436 million in debt for two Egyptian wind farms

EnergyInvestment

Monday 9th November 2026

Aerial view of Ras Ghareb on the western coast of the Gulf of Suez in Egypt — Ras Ghareb, near the planned wind projects, viewed from the air on 8 October 2015. File photo by Orderinchaos / Wikimedia Commons, CC BY-SA 4.0. Resized.

By inAfrika Newsroom

Alcazar Energy Partners secured $436 million in debt financing for two wind farms near Ras Ghareb on Egypt’s Gulf of Suez, the company said on 9 November. The two projects are expected to cost a combined $626 million, Reuters reported.

The European Bank for Reconstruction and Development, the European Investment Bank and German development finance institution DEG are each providing one-third of the debt package, according to the company.

The European Investment Bank’s project disclosure places both sites on the western side of the Gulf of Suez in Egypt’s Red Sea governorate. Niat and Rasgha are each designed for 250 megawatts of generating capacity, for a combined 500 megawatts.

The developer’s project record lists the wind farms in advanced development. Alcazar expects commercial operation by the end of 2028, Reuters reported.

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