The African Development Bank on 3 December approved a $170mn loan towards the $1.1bn cost of Egypt’s 1.1GW Suez Wind Energy project.
With other multilaterals and international banks also readying funds – the London-based EBRD is set to decide on a $200mn loan on 11 December (MEES, 11 November) – the project looks to have a good chance of completing financing and beginning construction in 2025 and hitting its target of mid-2027 start-up (MEES, 16 August). (CONTINUED - 96 WORDS)