ACWA Power Company has announced the successful signing of financing agreements for the Egypt Wind Power Plant, a major 1,100 MW renewable energy project located in Suez, Egypt. The project represents a total investment of SAR 4.13 billion, with ACWA Power holding a 70% effective stake in the project company.
According to the company’s statement on Tadawul, the senior debt for the project is financed by a consortium of development financial institutions, including the European Bank for Reconstruction and Development, the African Development Bank, British International Investment, DEG – Deutsche Investitions, the OPEC Fund for International Development, and the Arab Petroleum Investments Corporation. Standard Chartered Bank and Arab Bank also contributed to funding the senior debt through the European Bank for Reconstruction and Development’s B-loan structure.
The financing agreement secures SAR 2.638 billion in senior debt with a tenure of up to 20 years. This marks a significant step in advancing the project, which will support Egypt’s renewable energy goals and enhance its power infrastructure.
