A 1.1GW wind project planned by Saudi firm Acwa Power on Egypt’s Gulf of Suez coast looks close to go ahead. Last month saw the publication of the ‘Suez Wind Energy’ project’s environmental and social impact assessment, a move which key lender the EBRD earlier this year said would be followed by funding approval within 60 days (MEES, 26 January).
The African Development Bank also late last month revealed that it plans to part-fund the project, which it notes forms a key element of Egypt’s “ambitious plan to increase the contribution of renewable energy to 42% of the country’s electricity mix by 2030.” The 2023 share was 11%. (CONTINUED - 564 WORDS)
