OPECFund 9d ago

Changing Lives Together: An OPEC Fund Video Series Egypt: The OPEC Fund contributed USD 40 million to the Gulf of Suez 1,100MW Wind Power Plant, part of a USD 998.7 million investment co-financed with EBRD, the African Development Bank, BII, DEG and others. Two wind farms of 550MW each are being developed on the Gulf of Suez — one of the world's most productive wind corridors — and together will power over one million homes while offsetting nearly 2.8 million tons of carbon emissions annually. The project is a significant part of Egypt's ambition to source 42% of its electricity from renewables by 2035.