Power Grid

The Jabal Al-Zait wind farm, located on Egypt’s Red Sea coast, began development in 2015 with financial backing from the European Union, which provided a €30 million ($35 million) grant. The project has since become one of Egypt’s flagship renewable energy assets.

Dubai-based Alcazar Energy is reportedly in advanced discussions with Egyptian authorities to acquire the wind farm. According to Asharq Business, citing unnamed government officials, Alcazar submitted the strongest financial bid, with the potential transaction valued at up to $350 million.

Covering approximately 100 square kilometres, the Jabal Al-Zait wind farm comprises 300 wind turbines with a combined installed capacity of about 580 megawatts. The project plays a significant role in supporting Egypt’s renewable energy targets and power generation mix.

Alcazar is currently negotiating with Egypt’s sovereign fund and the Ministry of Electricity, with an agreement expected by the end of the first quarter. Other bidders for the asset reportedly included Saudi Arabia’s Acwa Power and UK-based Actis, among five companies competing for the project.