Orascom Aeolus and ENGIE Consortium Secures 900MW Wind Farm Project in Egypt

A major consortium comprising Orascom Construction Aeolus and ENGIE has secured a significant milestone in Egypts renewable energy expansion by signing a Power Purchase Agreement with the Egyptian Electricity Transmission Company for a 900MW wind farm project near Ras Shokeir in the Gulf of Suez.

The ambitious project will be developed under a 25-year Build-Own-Operate model with consortium ownership distributed among three key partners. Aeolus an African renewable energy independent power producer platform backed by Toyota Tsusho Corporation holds the largest stake at 40 percent. ENGIE a major French energy transition company maintains a 35 percent ownership while Orascom Construction retains 25 percent of the project.

This wind farm represents several significant achievements for the involved parties. For ENGIE the 900MW facility will become the companys largest onshore wind farm worldwide surpassing its current flagship Assurua wind complex in Brazil which has a capacity of 846MW. The project also marks ENGIEs third wind farm in Egypt extending the groups total installed wind capacity in the country to nearly 2000MW.

Orascom Construction will play a dual role in the project serving not only as an equity partner but also as the primary contractor. The UAE-based engineering and construction company will execute all civil and electrical works for the balance of plant while also supplying selected local components. This comprehensive involvement leverages Orascom Constructions established expertise in infrastructure development across the Middle East and Africa.

The consortium brings proven experience to this new venture having successfully delivered two previous wind farm projects in Egypt under similar Build-Own-Operate arrangements. Their track record includes the Red Sea Wind Energy project with 650MW capacity and the Ras Ghareb facility with 262.5MW capacity totaling 912.5MW of operational wind generation. Both previous projects were completed ahead of schedule and within budget demonstrating the partnerships capability to execute large-scale renewable energy developments efficiently.

Financial close for the new 900MW project is targeted for early third quarter 2026 marking the next critical milestone in the development timeline. Upon completion this third wind farm will increase the consortiums total wind power capacity to approximately 1800MW significantly expanding their renewable energy footprint in the region.

The project aligns with Egypts broader energy transition objectives as the government works toward increasing renewable energy to 42 percent of the national electricity mix by 2035. The Gulf of Suez region has emerged as a strategic location for wind energy development due to its favorable wind conditions and proximity to transmission infrastructure.

Paulo Almirante ENGIEs Senior Executive Vice President in charge of Renewable and Flexible Power emphasized the strategic importance of the project stating that it marks a new milestone for ENGIE in Egypt and confirms the confidence of long-term partners in the companys ability to deliver large-scale renewable assets.

The development represents a significant investment in Egypts energy infrastructure and demonstrates continued international confidence in the countrys renewable energy sector. With its substantial capacity and experienced development team the project is positioned to make a meaningful contribution to Egypts clean energy goals while establishing new benchmarks for wind farm development in the region.

This latest agreement builds upon the growing momentum in Egypts renewable energy sector as the country seeks to diversify its energy mix and reduce dependence on fossil fuels. The project also strengthens the strategic partnership between international energy companies and Egyptian authorities in advancing large-scale renewable energy solutions.