The African Development Bank (AfDB) has received the 2025 Infrastructure Deal of the Year award at the African Banker Awards in Abidjan for its standout role in financing the 1.1 GW Suez Wind Power Project, Africa’s largest wind energy development.
The $1.04 billion project, situated in Egypt’s Gulf of Suez, is slated to provide clean power to over one million homes by 2027.
Africa’s largest wind power project secures milestone financing
The Suez Wind Farm is a landmark achievement in Africa’s renewable energy drive. Spearheaded by Suez Wind Energy S.A.E., a consortium including ACWA Power, Hassan Allam Utilities, Meridiam, and the European Bank for Reconstruction and Development (EBRD), the project has also attracted equity support from the Oman Investment Authority and the Sovereign Fund of Egypt.
The AfDB played a central role in mobilizing $140 million for the initiative, which involves deploying 138 Envision 8 MW turbines, which are the most advanced of their kind and are being used in Africa for the first time. When fully operational, the plant is expected to generate 4,111 GWh of clean electricity annually, reducing CO₂ emissions by 1.71 million tons each year.
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This massive green project is not only about power, but also about people. With a strong emphasis on youth and gender inclusion, the Suez Wind Farm is projected to create 1,425 full-time and 315 part-time jobs during its construction phase. Egypt’s Minister of International Cooperation, Dr. Rania Al-Mashat, called it “a powerful example of what national commitment and strong partnerships can achieve.”
AfDB’s role in Africa’s renewable energy transition
Beyond financing, AfDB was instrumental in overcoming the project’s unique hurdles, such as mitigating environmental risks in a key bird migration zone and ensuring economic feasibility in a volatile macroeconomic environment. The Bank worked closely with developers to implement advanced bird monitoring systems and ensure turbine placement respected ecological sensitivities.
“This project shows how strong partnerships and innovative financing can deliver results at scale,” said Wale Shonibare, AfDB Director for Energy Financial Solutions, Policy and Regulation. Jing Li, Division Manager at AfDB, emphasized the importance of replicating this success across the continent: “We’re proud of what we’ve accomplished and excited to do more.”
The Suez Wind Project is the AfDB’s third major renewable energy venture in Egypt, following its successful involvement in the Benban Solar Park and the Kom Ombo 200 MW solar plant. This latest recognition cements AfDB’s leadership in shaping Africa’s clean energy future and aligns with its Mission 300 and High 5 priorities for sustainable development.
Powering a greener future for Africa
The Infrastructure Deal of the Year award spotlights the growing role of African-led institutions in financing large-scale climate solutions. The Suez Wind Power Project is not only a win for Egypt, but a model for the continent, proving that with the right partnerships, Africa can lead in renewable energy deployment and climate resilience.
With construction underway and full operation targeted for 2027, the AfDB continues to champion bold, bankable projects that deliver both economic growth and environmental impact—making clean, affordable energy a reality for millions.