OPEC Fund to inject $30m into Africa’s largest onshore wind farm in Egypt

The OPEC Fund for International Development has announced a $30 million investment to support the development of Africa's largest onshore wind farm, located in Egypt. This funding is part of a broader effort to bolster renewable energy infrastructure across Africa and contribute to the continent's transition to more sustainable energy sources.

The wind farm, which will be situated in the Gabal El-Zeit area along the Red Sea coast, is expected to have a significant impact on Egypt's energy sector. Once completed, it will be one of the largest renewable energy projects in Africa, with a capacity of over 1,000 megawatts. This project aligns with Egypt's broader strategy to diversify its energy mix, reduce reliance on fossil fuels, and meet the growing demand for electricity in the country.

The OPEC Fund's $30 million contribution will help to finance the construction and operational phases of the wind farm. This investment is part of the OPEC Fund's commitment to promoting sustainable development across its member countries and beyond, with a focus on renewable energy, climate change mitigation, and economic growth.

In addition to providing clean and renewable energy, the wind farm is expected to create thousands of jobs during both the construction and operational phases. It will also help Egypt reduce its carbon footprint, contributing to global efforts to combat climate change.

This project is part of a larger trend in Africa, where numerous countries are exploring renewable energy solutions to meet their energy needs while also addressing environmental concerns. The OPEC Fund's investment highlights the growing importance of international collaboration in advancing Africa's energy transition and supporting the continent's economic development through sustainable and green energy initiatives.