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EBRD Invests USD 192 Million in Egypt’s Shadwan Wind Farm Project

By Africazine

Egypt is advancing its renewable energy goals with significant international support.

The European Bank for Reconstruction and Development (EBRD) has committed USD 192 million to the 900 MW Shadwan wind farm in Ras Shukeir, owned by Norway’s Scatec. This financing will aid in the construction and operation of the facility, which is part of a broader initiative to enhance Egypt’s renewable energy capacity.

EBRD’s Investment in Egypt’s Wind Energy

The EBRD’s senior debt financing is a crucial step for the Shadwan wind farm project. Scatec previously secured a USD-denominated, 25-year power purchase agreement with the Egyptian Electricity Transmission Company, with total project costs estimated at USD 1 billion. The company plans to complete a study of the area by the second half of 2026, which will lead to financial closure and the start of construction.

This project aligns with Egypt’s Nexus of Water, Food, and Energy program, which aims to mobilize significant financing for renewable energy. The EBRD has already facilitated around USD 4 billion in concessional financing for private renewable projects, targeting a total of 10 GW by 2028.

Broader Renewable Energy Initiatives

The Shadwan wind farm is not the only project in collaboration with the EBRD. The bank is considering additional investments in Egypt’s wind power infrastructure, including a potential USD 200 million loan for a 500-MW wind complex by UAE-based Alcazar Energy Partners in Ras Ghareb. This reflects a growing commitment to bolster Egypt’s renewable energy landscape.

Recently, Scatec also completed its 1.1-GW Obelisk solar-and-battery project in Nagaa Hammadi, with the EBRD contributing USD 173.5 million to the total investment of USD 600 million.

Next Steps for Egypt’s Renewable Energy Projects

  • Completion of area study for Shadwan wind farm in 2H 2026.
  • Proceed to financial closure and construction commencement for Shadwan.
  • Potential USD 200 million loan package for Alcazar Energy Partners’ project.

Egypt is making strides in renewable energy with substantial international investment.

EBRD Invests USD 192 Million in Egypt’s Shadwan Wind Farm Project

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