The Ras Ghareb Wind Farm in Egypt has started commercial operations for a portion of its planned capacity. A 306 MW segment of the project is now operational. The project is being developed under a Build-Own-Operate (BOO) scheme and will eventually have a total capacity of 650 MW. The construction is managed by Orascom Construction, a company listed on the Egyptian Exchange (EGX) and NASDAQ.
The project is being executed by a consortium called Red Sea Wind Energy. The consortium includes Engie (35 percent ownership), Orascom Construction (25 percent), Toyota Tsusho Corporation (20 percent), and Eurus Energy Holdings Corporation (20 percent). The consortium completed financial agreements for the 150 MW expansion of the wind farm, which brings the total capacity to 650 MW.
Non-recourse financing for the project is being provided by several institutions. These include the Japan Bank for International Cooperation (JBIC), Sumitomo Mitsui Banking Corporation, Norinchukin Bank, Société Générale, and the European Bank for Reconstruction and Development (EBRD). The financing is supported by Nippon Export and Investment Insurance. The consortium has completed the first 306 MW four months ahead of schedule and surpassed the contractual target by 56 MW.
The remaining capacity of the project is under construction and is expected to connect to Egypt’s national grid by the third quarter of 2025. Once completed, the project will be the largest wind farm in the Middle East and Africa.
Other renewable energy projects operating or under development in Egypt include the Benban Solar Park, which has an installed capacity of 1,650 MW and became fully operational in 2019. Additionally, Lekela Power’s West Bakr Wind Farm has a capacity of 250 MW and started operations in 2021.
The Ras Ghareb consortium has also received approval for the development of a 1 GW wind farm on a newly allocated land plot in Egypt. Planning and preparatory work for this project are underway.
