Alcazar Energy Partners, a leading independent investor in renewable energy across growth markets, announces the signing of a Memorandum of Understanding (MoU) with the Egyptian Electricity Transmission Company (EETC) and the New and Renewable Energy Authority (NREA) for the development of a 2 GW onshore wind power project in Egypt.
Read also – ALTÉRRA, GEAPP and Rockefeller Foundation Collaborates to Accelerate Clean Energy Transition in Global South
This collaboration reinforces Alcazar Energy Partners continued commitment to advancing Egypt’s energy transition through investment in renewable energy infrastructure. This landmark project will produce enough clean electricity to power over 1.3 million households and will directly support Egypt’s renewable energy aims to bolster its sustainable power generation.
Read also – Infracorp Signs Partnership with Mena Aerospace to Develop Aircraft Hangar Facilities in Bahrain
The 2GW wind power project will play a vital role in supporting Egypt’s 2030 Vision for renewable energy and environmental sustainability, engaging up to 12,500 construction workers and 1,170 full time workers during operation. Once built, the project will prevent the release of up to 4.7 million tons of CO2 emissions annually.
Daniel Calderon, Co-Founder and Managing Partner of Alcazar Energy Partners, said: “This partnership with EETC and NREA highlights our mutual commitment to supporting Egypt’s energy transition through large-scale, sustainable infrastructure projects. Alongside the Minister of Electricity and Renewable Energy, Dr. Mahmoud Esmat, and Deputy Minister Ms. Sabah Mashaly we are working towards a cleaner, greener future for Egypt, advancing the nation’s ambitious renewable energy targets. This project will not only deliver substantial environmental benefits but will also advance Egypt’s domestic goals by creating jobs and fostering local expertise.”
About Alcazar Energy Partners
Alcazar Energy Partners is a Dubai-based independent sustainable investment manager with a strong track record in investing and developing utility scale renewable energy projects in emerging markets since 2014. By 2018 Alcazar Energy Partners’ first investment vehicle, AEP- I, had created the largest independent solar portfolio in Egypt at the time. Earlier this year Alcazar Energy Partners closed its second vehicle, AEP-II at USD 490m. This brought together blue-chip public and private investors from North America, Europe, Asia and the Middle East. Alcazar Energy Partners is dedicated to climate mitigation by mobilising capital to develop, build, and operate renewable energy assets in emerging and developing markets.
