Deal Summary
The OPEC Fund for International Development (OPEC Fund) announced a commitment of $30 million in senior debt financing to Suez Wind Energy S.A.E (Suez Wind) to develop Africa’s largest onshore wind project in Egypt’s Gulf of Suez region. Suez Wind is a joint venture between ACWA Power (70% stake) and HAU Energy BV (30% stake). ACWA Power is a leading developer, investor, and operator of power generation assets, managing a $97 billion portfolio with a total capacity of 69.2 GW. HAU Energy BV (HAU Energy) is the funding vehicle of Hassan Allam Utilities, the investment and development arm of Hassan Allam Holding, a renowned Egyptian engineering and construction company. Expected to be operational by Q2 2027, the Suez Wind project comprises two 550 MW wind farms, with 138 turbines of 8 MW each and will power over 1 million homes while reducing annual carbon emissions by 2.5 million tonnes. The
