Gulf of Suez Wind Farm

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The FC measure includes the financing of another wind farm (Gulf of Suez wind farm) on the west coast of the Red Sea in Egypt. The wind farm to be financed should have an installed capacity of at least 250 MW. The aim of the project is to make a contribution to the sustainable, efficient and ecologically compatible generation of electrical energy and to avoid CO2 emissions. The FC measure thus directly supports the Egyptian government's ambitious goal of generating at least 42% of the electricity generated from renewable energy sources by 2030. The total cost of the measure is estimated at around EUR 344 million. The measure is being financed as part of the Neighborhood Investment Facility (NIF) in cooperation with the European Union (EU), the French development bank AFD and the European Investment Bank (EIB) under the leadership of KfW. The FC share is EUR 58.8 million.