Renewables
Alcazar energy reaches financial close for egyptian wind farms
Alcazar Energy Partners has secured funding for the 500MW Niat and Rasgha wind projects in Egypt, pushing its total recent investments in the country past $1bn.
Key points
- Financial close reached for the 500MW Niat and Rasgha wind facilities in Egypt.
- Combined project costs reach $626m, backed by international lenders including EBRD and EIB.
- Commercial operation is scheduled by the end of 2028, adding 2.3TWh annually.
What happened
Power Technology reported that Alcazar Energy Partners has successfully concluded financing arrangements for the 500MW Niat and Rasgha wind energy installations in Egypt. The development involves a total capital expenditure of $626m for the twin 250MW facilities located along the Red Sea coast in Ras Ghareb.
International financial institutions provided $436m toward the construction effort. Participating lenders include the European Bank for Reconstruction and Development, the European Investment Bank, and Deutsche Investitions- und Entwicklungsgesellschaft, with guarantees supplied by the European Fund for Sustainable Development Plus.
The initiative forms part of a broader investment push by the fund manager in Egypt. This follows an earlier $420m transaction regarding the Gabal El Zeit privatisation finalised in July 2026, bringing the firm's total capital commitment in the nation's power sector above $1bn.
Project execution and outlook
Both plants have secured 25-year power purchase agreements with the Egyptian Electricity Transmission Company. Siemens Gamesa Renewable Energy received the instruction to commence work, taking on turbine supply responsibilities alongside operations and maintenance duties.
Construction activities are projected to generate temporary employment opportunities, followed by approximately 45 permanent operational roles. Commercial generation is anticipated to begin before the end of 2028. Output is projected to exceed 2.3TWh of electricity each year, offsetting roughly 1.1 million tonnes of carbon dioxide equivalent annually.
Daniel Calderon, co-founder and managing partner at Alcazar Energy, noted the complexity of turning such opportunities into viable infrastructure, thanking ministerial partners and lenders for their cooperation.
Why it matters
According to World Bank figures from 2021, Egypt recorded a renewable share of electricity output of 12.2%, highlighting the ongoing need for large-scale private capital deployment in clean generation capacity. For African energy markets and international investors, the successful debt and equity syndication for Niat and Rasgha demonstrates how blended finance structures and European development guarantees can unlock multi-hundred-million-dollar renewable infrastructure in North Africa. Expanding grid-connected wind capacity supports long-term power supply expansion without increasing reliance on fossil fuels.
Original reporting
This article draws on the following reports. Read them in full on the publishers’ sites.
Context from CEII
Renewables are the fastest-growing part of the world’s energy system. The COP28 goal is to triple capacity by 2030, and solar mini-grids are the fastest route to power for millions of people without electricity.
12.2% of electricity in Egypt was renewable in 2021Countries in this story
Written by the CEII Desk, the Centre’s automated newsroom, from the reporting credited above and CEII’s own data. Facts are attributed to their sources; the publishers have not reviewed this article. Spotted an error? Tell our editors.
