Financing Secured for Major Wind Farm Project in Egypt
January 3, 2025 - 21:00
A significant milestone has been achieved in the renewable energy sector as financing has been secured for a 1.1GW wind farm located in Suez, Egypt. The project is set to play a crucial role in enhancing the country's energy landscape and promoting sustainable practices.
The financial package includes a substantial senior debt facility amounting to $703.6 million, provided by a consortium of international banks and institutions. This investment underscores the growing confidence in Egypt's renewable energy initiatives and its commitment to diversifying its energy sources.
The wind farm is expected to contribute significantly to Egypt's energy production, supporting the nation's goals for increased renewable energy capacity. As the world shifts towards cleaner energy solutions, this project exemplifies the potential for large-scale wind energy development in the region.
With this financing in place, the project is poised to move forward, bringing both economic and environmental benefits to Egypt and setting a precedent for future renewable energy ventures in the country.
MORE NEWS
February 2, 2026 - 10:07
Hana Financial Group Seeks ‘Balanced Growth’ With Non-Bank TurnaroundHana Financial Group has announced a strategic pivot for the coming year, prioritizing a turnaround at its non-banking affiliates to achieve what it terms `balanced growth.` This move signals a...
February 1, 2026 - 19:29
I’m a 66-year-old retired homeowner in Fort Worth, sitting on $143,000 in cash. What should I do with my money?A retired homeowner in Fort Worth, aged 66, is thoughtfully considering the next steps for a substantial $143,000 cash reserve. This scenario highlights a common and crucial crossroads for many...
February 1, 2026 - 05:33
Bitcoin Retreats Below $80,000 as Market Sees Influx of New InvestorsThe price of Bitcoin has fallen below the psychologically significant $80,000 threshold, introducing a note of caution into the recent bullish market sentiment. This dip represents a period of...
January 31, 2026 - 06:28
Is Pathward Financial (CASH) Still Attractively Priced After Strong Recent Share Price GainsInvestors are closely examining Pathward Financial`s stock valuation after a period of significant share price appreciation. The financial services provider has delivered robust returns across...