AfDB Wins 2025 Top Infrastructure Deal Award for Egypt’s 1.1 GW Suez Wind Project

The African Development Bank (AfDB) has been awarded the prestigious “Infrastructure Deal of the Year” for 2025 at the African Banker Awards, in recognition of its groundbreaking role in financing Africa’s largest wind power project to date—the 1.1 GW Suez Wind Power Plant in Egypt. This accolade was announced during the Bank Group’s Annual Meetings held in Abidjan, Côte d’Ivoire.

The $1.04 billion project, located in the Gulf of Suez, is being developed by Suez Wind Energy S.A.E., a special purpose vehicle (SPV) formed by ACWA Power and HAU Energy B.V.—a consortium of Hassan Allam Utilities, Meridiam, and the European Bank for Reconstruction and Development (EBRD). Strategic equity participation is provided by the Oman Investment Authority and the Sovereign Fund of Egypt, reflecting a powerful model of public-private partnership in Africa’s clean energy transition.

A New Benchmark in Africa’s Renewable Energy Ambitions

The project will install 138 state-of-the-art Envision wind turbines, each with a capacity of 8MW, marking the debut of this advanced turbine technology on the African continent. With an anticipated annual energy output of approximately 4,111 GWh, the Suez wind farm will provide enough clean electricity to power more than one million households. It will also reduce CO₂ emissions by an estimated 1.71 million tonnes per year, bolstering Egypt’s climate commitments under the Paris Agreement.

Dr. Rania A. Al-Mashat, Egypt’s Minister of Planning, Economic Development & International Cooperation, hailed the project as a “flagship initiative” under Egypt’s Country Platform for the NWFE (“Nexus of Water, Food and Energy”) energy pillar. “This award not only underscores the scale and impact of the Suez Wind Project but also Egypt’s enduring commitment to clean, reliable and affordable energy for all,” she said.

AfDB’s Transformational Role

AfDB mobilized $140 million in direct financing for the project, catalyzing broader co-financing arrangements and laying the foundation for one of the continent’s most ambitious renewable infrastructure efforts. The Bank also played an essential role in addressing the project’s unique financial and environmental complexities. These included navigating macroeconomic volatility, deploying new turbine technology under challenging terrain, and ensuring rigorous environmental and biodiversity safeguards—particularly vital given the project's location along a major migratory bird route.

Wale Shonibare, AfDB’s Director for Energy Financial Solutions, Policy and Regulation, described the project as a blueprint for what is possible through multilateral cooperation and innovation. “This initiative shows that with bold leadership, sound risk mitigation, and deep partnership, Africa can leap ahead in renewable energy deployment,” he stated.

Jing Li, Division Manager for Energy Financial Solutions at AfDB, emphasized the project’s position within the Bank’s broader renewable energy portfolio. “Following successes such as Redstone’s 100 MW concentrated solar power plant in South Africa and the Kom Ombo 200 MW solar PV project in Egypt, the Suez Wind project takes our vision further—delivering cleaner, more resilient energy systems across the continent,” she said.

Creating Impact Beyond Megawatts

The project will create approximately 1,425 full-time jobs and 315 part-time jobs during its construction phase, with a strong focus on youth employment and gender inclusion. Beyond its carbon and energy metrics, the wind farm’s development underscores a shift toward integrated development outcomes—aligning with AfDB’s Mission 300 and its broader High 5 strategic priorities: Light up and power Africa, Feed Africa, Industrialize Africa, Integrate Africa, and Improve the quality of life for the people of Africa.

The Bank’s involvement has been more than financial—it has supported strategic project design, institutional strengthening, and regulatory collaboration. Its commitment to balancing development with environmental conservation was also seen through its guidance on implementing advanced bird migration monitoring systems and strategic turbine placement to avoid ecological disruption.

Leading Egypt’s Energy Transformation

This award comes as AfDB marks a decade of strategic engagement in Egypt’s energy sector. Its investments in the Benban solar complex and other renewables have been instrumental in reducing Egypt’s reliance on fossil fuels and positioning it as a leader in regional clean energy supply.

The Suez Wind Project further reinforces Egypt’s role as a renewable energy hub in North Africa, with the potential to become a key exporter of green power to neighboring regions and Europe.

A Beacon for Africa’s Clean Energy Future

As global energy priorities shift and climate action becomes more urgent, the Suez Wind Power Plant stands as a symbol of Africa’s capacity to lead in green innovation, sustainable financing, and cross-border collaboration. The African Development Bank’s recognition at the 2025 African Banker Awards affirms its leadership in transforming the continent’s energy landscape—one strategic deal at a time.