The African Development Bank has been awarded the prestigious “Infrastructure Deal of the Year” for 2025 by The African Banker Awards. This recognition was given in acknowledgment of the Bank’s pivotal role in financing the groundbreaking 1.1 GW Suez Wind Power Project in Egypt, which is the largest wind energy project in Africa to date.
The award was presented during the African Development Bank Group’s 2025 Annual Meetings in Abidjan, Côte d’Ivoire, showcasing the Bank’s leadership and innovative financing approach in securing $140 million towards the total project cost of $1.04 billion.
Situated in the Gulf of Suez, the Suez Wind Power Project is being developed by Suez Wind Energy S.A.E., a special-purpose vehicle established by ACWA Power and HAU Energy B.V. The project also involves equity partners such as Oman Investment Authority and the Sovereign Fund of Egypt. This collaboration aims to introduce cutting-edge wind technology to Africa through the installation of 138 Envision turbines, each boasting an 8 MW capacity.
Rania A. Al-Mashat, Minister of Planning, Economic Development & International Cooperation in Egypt, expressed her admiration for the project, stating, “The Suez 1.1 GW Wind Power Plant Project stands as a powerful example of what national commitment and strong partnerships can achieve. As the largest wind energy project in Egypt and one of the largest in Africa, it reflects the strength of Egypt’s Country Platform under the NWFE program’s energy pillar,.”
Scheduled to be operational by 2027, the Suez Wind Farm is projected to produce approximately 4,111 GWh of clean electricity annually, sufficient to meet the needs of over one million households. Moreover, the project is expected to significantly reduce carbon emissions by approximately 1.71 million tons of CO₂ per year.
In addition to its environmental benefits, the development of the Suez Wind Power Project is set to create employment opportunities. It is estimated that during the construction phase, the project will generate 1,425 full-time jobs and 315 part-time positions, with a strong emphasis on promoting youth employment and gender equality.
The African Development Bank’s contribution to the Suez Wind Power Project underscores its commitment to fostering sustainable infrastructure development in Africa and promoting renewable energy initiatives. This recognition further solidifies the Bank’s position as a key player in driving economic growth and sustainable development across the continent.
