Alcazar secures funding for 500MW Niat & Rasgha projects in Egypt. The projects have a total cost of $626m and are expected to begin commercial operation by late 2028. Alcazar Energy Partners (AEP), a renewable energy infrastructure fund manager, has reached financial close on the 500MW Niat and Rasgha wind projects in Egypt, with the combined project cost reaching $626m. These projects, coupled with the $420m Gabal El Zeit privatisation transaction signed in July 2026, represent a combined investment of more than $1bn in Egypt's power sector. The Gabal El Zeit privatisation is moving towards a separate project-finance close. The combined figures represent both project and transaction values, including debt and equity. Situated in Ras Ghareb on Egypt's Red Sea coastline, the Niat and Rasgha facilities each have an installed capacity of 250MW. Both projects have signed 25-year power purchase agreements (PPAs) with the Egyptian Electricity Transmission Company (EETC). Alcazar Energy expects commercial operation of Niat and Rasgha by the end of 2028. Once operational, the wind farms are expected to produce more than 2.3TWh of electricity annually and help avoid nearly 1.1 million tonnes of CO[2]-equivalent emissions per year. Projections include the creation of around 45 direct operational jobs, alongside temporary employment during the construction phase. Siemens Gamesa Renewable Energy (SGRE) has received the notice to proceed, which moves the projects into the execution phase. Alcazar Energy acquired development rights for Niat and Rasgha, oversaw further development, and arranged financing. Siemens Gamesa Renewable Energy will supply the wind turbines and deliver operation and maintenance services, having also contributed to earlier development efforts. Orascom Construction will manage balance-of-plant works. Funding for the Niat and Rasgha projects amounts to $436m, provided by the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), and Deutsche Investitions- und Entwicklungsgesellschaft (DEG). Each lender is supplying one-third of the debt finance. According to Alcazar Energy, this financing benefits from guarantees under the European Fund for Sustainable Development Plus (EFSD+). Alcazar Energy co-founder and managing partner Daniel Calderon said: "Its job is to turn complex opportunities into projects that can be financed and built. "Niat and Rasgha are an important step in that work and in its long-term commitment to Egypt. Power Technology is bringing together capital, technology and local expertise to expand electricity supply and support the country's energy security. "We thank Mahmoud Esmat, Minister of Electricity and Renewable Energy, EETC and the New and Renewable Energy Authority, together with Siemens Gamesa, Orascom Construction, EBRD, EIB, DEG and the European Union, for their partnership." Give your business an edge with its leading industry insights.

Alcazar secures $436 million financing for Egypt wind farms. Alcazar Energy Partners has reached financial close on two wind power projects in Egypt worth a combined $626 million, securing $436 million in debt financing as the country accelerates investment in renewable electricity generation. The Niat and Rasgha wind farms, each with a capacity of 250 megawatts (MW), will be developed in Ras Ghareb along Egypt's Red Sea coast. Both projects have secured 25-year power purchase agreements with the Egyptian Electricity Transmission Company (EETC), providing long-term revenue arrangements for the developments. Financing will be provided in equal shares by the European Bank for Reconstruction and Development (EBRD), European Investment Bank (EIB), and Deutsche Investitions- und Entwicklungsgesellschaft (DEG), a subsidiary of Germany's KfW Group. The debt package also benefits from European Union guarantee support. Construction is moving forward, with Siemens Gamesa Renewable Energy, part of Siemens Energy, receiving notice to proceed. Siemens Gamesa will supply the wind turbines and provide operations and maintenance services, while Orascom Construction will oversee balance-of-plant works. The two wind farms are expected to begin commercial operations by the end of 2028. Once operational, they are projected to generate more than 2.3 terawatt-hours of electricity annually and avoid approximately 1.1 million tonnes of carbon dioxide-equivalent emissions each year. The financing milestone forms part of Alcazar's broader expansion in Egypt's renewable energy sector. In a separate transaction, the company signed agreements valued at $420 million for the privatisation of the existing 580 MW Gabal El Zeit wind complex. That transaction is progressing toward its own project-finance close. Together, the Niat and Rasgha developments and the Gabal El Zeit transaction represent approximately $1.05 billion in combined project and transaction value, although financing for the latter has not yet closed. The investments come as Egypt seeks to reduce its dependence on fossil-fuelled electricity generation and attract international capital into its power sector. Egyptian authorities outlined plans in July 2026 to increase renewable energy's share of the national electricity mix to 45% within two years, supported by additional wind, solar and battery storage capacity. The developments also highlight the growing role of European development finance institutions in supporting large-scale renewable energy infrastructure across North Africa. For Alcazar Energy Partners, which closed its second investment fund with $490 million in commitments in May 2024, the projects mark another step toward its goal of mobilising approximately $2 billion in renewable energy investment across growth markets. By Charles Kennedy for Oilprice.com More Top Reads From Oilprice.com

Dubai's Alcazar Energy raises $436M for 2 wind farms in Egypt. Nov 09, 2026, 3:35 AM Alcazar Energy's Niat and Rasgha wind projects in Egypt will have a combined capacity of 500 megawatts and are expected to begin operations by the end of 2028. Image by Alcazar Energy website Dubai-based Alcazar Energy Partners has obtained $436 million in debt financing for two wind farms in Egypt worth a combined $626 million, as the country expands its renewable energy capacity, the company announced Monday. Financing and project details. * The Niat and Rasgha wind farms, located in Ras Ghareb on Egypt's Red Sea coast, will each have a capacity of 250 megawatts, bringing their combined capacity to 500 megawatts. * The European Bank for Reconstruction and Development (EBRD), European Investment Bank (EIB), and German development finance institution DEG will provide the debt package in equal shares. * The financing benefits from European Union guarantees under the European Fund for Sustainable Development Plus (EFSD+). * Both projects have secured 25-year power purchase agreements with the Egyptian Electricity Transmission Company (EETC). * Commercial operations are expected to begin by the end of 2028, with annual generation forecast to exceed 2.3 terawatt-hours, equivalent to the average annual electricity consumption of approximately 1.2 million homes, according to Reuters. * The projects are also expected to avoid nearly 1.1 million tonnes of carbon dioxide-equivalent emissions annually and support approximately 45 direct operational jobs, alongside temporary construction employment, according to Alcazar. Construction and electricity pricing. Alcazar has issued a notice to proceed to Siemens Gamesa Renewable Energy, advancing the developments into the execution phase. Siemens Gamesa will supply the wind turbines and provide operation and maintenance services, while Egypt's Orascom Construction will undertake civil and electrical works as the balance-of-plant contractor. Alcazar's Co-Founder and Managing Partner Daniel Calderon told Reuters that electricity from the projects would cost approximately 3 cents per kilowatt-hour, significantly below the cost of natural gas-generated power. The projects are expected to enter commercial operations in late 2028. Gabal El Zeit complex. The financial close forms part of Alcazar's wider Egyptian investment program, alongside its separately signed $420 million transaction involving the state-owned Gabal El Zeit wind complex. The agreements for the 580-megawatt project were signed in July 2026, with the transaction progressing toward a separate project-finance close. Alcazar is seeking to complete financing for the Gabal El Zeit transaction, which Calderon told Reuters could reach financial close by the end of 2026. Together, the Niat and Rasgha developments and Gabal El Zeit transaction represent more than $1 billion in project and transaction values, including debt and equity, according to Alcazar. The investments support Egypt's efforts to expand renewable power generation and reduce its reliance on natural gas, with the government targeting renewables to account for 45% of electricity generation by 2028, Reuters reported. Surprising fact. Established in 2014, Alcazar Energy Partners invests in and develops utility-scale renewable energy projects across growth markets. Its first investment vehicle mobilized approximately $750 million for wind and solar assets, while its second fund closed with $490 million in commitments in May 2024 and is expected to mobilize approximately $2 billion in investment.