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.
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“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.
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