ENGIE has announced the expansion of its flagship wind farm project located on the shores of the Gulf of Suez, in Ras Ghareb, Egypt, which is currently under construction. This project, the largest in Africa, is being developed in collaboration with Orascom Construction, Toyota Tsusho Corp., and Eurus Energy Holdings Corp., within the Red Sea Wind Energy consortium. The expansion will increase the total capacity of the wind farm from 500 MW to 650 MW, further solidifying ENGIE’s key role in advancing renewable energy development in Africa and the Middle East. As part of this expansion, an additional agreement to the long-term power purchase agreement (PPA) has been signed with the Egyptian Electricity Transmission Company (EETC). This agreement guarantees revenues for the 150 MW extension and secures revenues for the entire 650 MW of the farm for 25 years.
ENGIE, which holds 35% of the Red Sea Wind Energy consortium with complementary expertise, plays a key role as the technical and project management partner of the project. The other partners are Orascom Construction PLC (25%), Toyota Tsusho Corp. (20%), and Eurus Energy Holdings Corp. (20%). The consortium has also achieved financial close for the 150 MW expansion, which is financed by the same partners who financed the original 500 MW project capacity: the Japan Bank for International Corporation (JBIC) in coordination with Sumitomo Mitsui Banking Corporation, the Norinchukin Bank, Société Générale S.A under a Nippon Export and Investment Insurance (NEXI) cover, and the European Bank for Reconstruction and Development (EBRD).
ENGIE has also confirmed that a capacity of 306 MW is now connected to the national grid as part of a first phase of the project’s commissioning, ahead of schedule. The full commissioning of the park is scheduled for 3Q25, as initially planned before the extension.
The Red Sea Wind Energy wind farm will sustainably contribute to Egypt’s energy mix, which aims for 42% of electricity produced from renewable sources by 2030, with the goal of reducing CO2 emissions by approximately 1.3 million tpy. Once operational, the wind farm will generate renewable energy capable of powering more than 1 million homes. This project is the second for the consortium in Ras Ghareb after the 262.5 MW wind farm already operational since October 2019. With this extension, ENGIE’s total wind power capacity in Egypt will reach 912.5 MW, further consolidating the Group’s leadership in the renewable energy sector in Africa and the Middle East.
Paulo Almirante, ENGIE’s Senior Executive Vice President in charge of Renewables & Energy Management, said: “We are committed to be replicating the same level of operational excellence for Red Sea Wind Energy’s expansion, relying on our Egyptian partners and the consortium’s operational excellence. Once completed in 2025, Red Sea Wind Energy will be one of the largest onshore wind facilities in ENGIE’s global portfolio and will significantly contribute to the Egyptian government’s ambitions to transition to a low-carbon economy.”
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
Energy Global’s Winter 2024 issue
Don’t miss out on our last issue of the year! The Winter issue of Energy Global is out now; this issue kicks off with a guest comment from Veronica Maxted, Director of Renewables at RS Group before moving on to a regional report on the current state of the renewables industry in North America. This edition of the magazine also explores key topics such as inspection and maintenance, solar optimisation, energy storage technology, geothermal drilling and operations, and much more. With contributions from key industry leaders such as Viridien, Hexagon, DNV Energy Systems, and Halliburton, among others, dive into the issue and see what you could learn.
Read the article online at: https://www.energyglobal.com/wind/14012025/engie-expands-red-sea-wind-energy-wind-farm-in-egypt/
#ENGIE #expands #Red #Sea #Wind #Energy #wind #farm #Egypt