The Red Sea Wind Energy Consortium announced the commencement of full commercial operations of the new 650-megawatt wind farm, constructed near Ras Ghareb in Egypt’s Red Sea Governorate. This project is part of the country’s efforts to expand electricity production from renewable energy sources and reduce reliance on traditional fossil fuels to meet growing energy demand.
The consortium implementing the project consists of four international and regional companies: French company Engie, which owns a 35 percent stake; Egyptian company Orascom Construction, which owns a 25 percent stake; Japanese company Toyota Tsusho, which owns a 20 percent stake; and Japanese company Euros Energy, which also owns a 20 percent stake. The project is based on a 25-year build-own-operate (BOO) model, within the framework of a public-private partnership aimed at promoting foreign direct investment in the Egyptian renewable energy sector.
According to an official disclosure issued by Orascom Construction and published on the Egyptian Exchange website, the new Red Sea wind farm is the largest of its kind in the Middle East and Africa to date. It will provide clean electricity to more than one million Egyptian homes and contribute to reducing carbon dioxide emissions by an estimated 1.5 million tons annually, reflecting Egypt’s commitment to achieving sustainable development goals and reducing the carbon footprint of the energy sector.
The consortium indicated that it has already begun the evaluation and feasibility studies necessary to develop a new 900-megawatt wind farm on a plot of land adjacent to the current site. This is part of its expansion plans to invest in clean energy in Egypt, which has witnessed significant growth in recent years.
The Egyptian government seeks to increase the contribution of renewable energy to the national energy mix through strategic plans focused on exploiting wind and solar energy resources, particularly in the Red Sea, Sinai, and the Eastern and Western Deserts. This will achieve energy security for the country and provide sustainable and environmentally friendly alternatives. This step also aligns with Egypt’s Vision 2030, which aims to increase reliance on renewable energy to 42 percent of total electricity production by 2035, while also enhancing local and foreign investment opportunities and creating jobs in industrial and technical sectors that support the national economy.
