New Investments
OPEC Fund Backs Africa’s Largest Onshore Wind Farm with $30 Million Investment
The OPEC Fund for International Development has pledged $30 million to support the Gulf of Suez Wind Farm in Egypt, poised to become Africa’s largest onshore wind energy project.
Egypt has been actively expanding its renewable energy portfolio to combat electricity shortages and supply green power to Europe.
The OPEC Fund’s investment aims to boost Egypt’s energy landscape by creating employment opportunities during the construction and operational phases of the wind farm.
This milestone aligns with a larger trend across Africa, where nations are increasingly investing in renewable energy to meet growing demands and address environmental challenges.
Related Articles
Register Now
Empower Africa Times Newsletter
Share :
“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
You may also like…
Sahel Capital Secures $10 Million from Mastercard Foundation to Back Agri-SMEs in Africa
Sahel Capital, manager of the Social Enterprise Fund for Agriculture in Africa (SEFAA), has secured a $10 million commitment from the Mastercard Foundation Africa Growth Fund, which is administered by Mennonite Economic Development Associates (MEDA) in Mauritius.
Oasis Capital Ghana Announces First Close of $100 Million Fund for West African SMEs
West Africa-focused fund manager Oasis Capital Ghana has secured $33.3 million in initial commitments for its new $100 million Oasis Africa Fund II (OAF II).
Egypt’s Synapse Analytics Secures $2 Million to Expand AI Financial Solutions
Synapse Analytics, an Egyptian artificial intelligence (AI) startup, has secured a $2 million investment to expand its AI-powered solutions across the Gulf Cooperation Council (GCC) and Africa.