Photo: Wirestock on Freepik
Alcazar Energy Partners formalized the partnership for the final development, construction and operation of Siemens Gamesa Renewable Energy’s NIAT wind power project in Egypt, of 500 MW.
Alcazar Energy Partners (AEP), an independent infrastructure fund manager focused on utility-scale renewable energy projects in growth markets, said it signed a share sale and purchase agreement with Siemens Gamesa Renewable Energy (SGRE), joining the NIAT wind farm project as an equity partner. The deal is for final development, construction, and operation of the facility in Egypt.
Upon completion of the transaction and required approvals, Alcazar Energy will assume full ownership and operational responsibility, the update reveales. Siemens Gamesa, which initiated and advanced the project, will continue as a strategic partner in the final stages and is anticipated to provide turbine technology and related services under the framework.
NIAT wind farm to generate up to 2.5 TWh per year
The announcement builds on AEP’s existing commitment to developing high-quality and reliable renewable energy in Egypt and across the Middle East and North Africa (MENA) region. The NIAT wind project will benefit the country’s economy and its goal to reach a 42% share of renewables in its electricity production by 2030, it added.
Once fully operational, the wind farm is expected to generate up to 2.5 TWh of clean electricity per year, avoid over 1.2 million tonnes of CO₂-equivalent emissions each year and produce enough clean energy to power up to 280,000 households.
Project to create as many as 2,500 jobs
The project will create up to 2,500 jobs during construction and operation, Alcazar added and pointed out that it has already received strong interest from several development financial institutions.
“Siemens Gamesa has played a central role in installing large-scale wind projects across the region and we are pleased to partner with them once again as we advance the NIAT wind farm. This project is an important contribution to Egypt’s clean energy transition and a strong addition to Alcazar Energy Partner’s growing portfolio. We are also pleased to draw on Siemens Gamesa’s expertise as we work to deploy their turbines technology in the country,” said Co-founder and Managing Partner of Alcazar Energy Partners Daniel Calderon.
AEP has been an active contributor to Egypt’s renewable energy sector since 2014, becoming the largest equity investor in the landmark Benban solar park. It developed four projects within the complex, delivering a combined peak capacity of 256 MW. In November 2024, AEP signed an agreement with the Government of Egypt for the development of a 2 GW onshore wind platform in Egypt.
Following the successful exit of its first vehicle, AEP-I, the firm launched AEP-II in 2021, attracting institutional investors from North America, Europe, Asia and the Middle East. To date, AEP has raised over USD 730 million across its two funds.
Be the first one to comment on this article.