Hassan Allam’s leadership drives Egypt’s $1.1 billion Gulf of Suez wind farm project

Oluwatosin Racheal Alabi -

Key Points

  • Hassan Allam leads a $1.1 billion wind farm project in Egypt's Gulf of Suez, supported by a $40 million OPEC loan.
  • The project will generate 1.1 GW of clean energy, powering over 1.3 million households and advancing Egypt's renewable energy goals.
  • Strong global financial backing from the European Bank for Reconstruction and Development (EBRD) and the African Development Bank (AfDB) highlights confidence in Egypt’s energy transition.

Hassan Allam, the driving force behind Hassan Allam Holding Group, is spearheading Egypt’s $1.1 billion Gulf of Suez wind farm project. Central to this initiative is a $40 million loan from the OPEC Fund for International Development, which complements significant international financial backing.

The project aims to develop two large-scale wind farms producing 1.1 gigawatts of clean power, enough to supply over 1.3 million households. The wind farms will be implemented by Hassan Allam Utilities, a key player in Egypt’s renewable energy and infrastructure sectors, alongside Saudi Arabian company ACWA Power.

Hassan Allam Utilities, part of Hassan Allam Holding Group, has been instrumental in enhancing infrastructure and renewable energy initiatives in Egypt. The company has a history of delivering large-scale infrastructure projects across the Middle East and Africa. Recent expansions, including a 10-gigawatt wind farm and a new regional office in Riyadh, Saudi Arabia, underscore its growing influence.

The Gulf of Suez wind farm project has attracted substantial international financial support. In addition to the $40 million OPEC loan, the European Bank for Reconstruction and Development has contributed $200 million, and the African Development Bank has provided $170 million. This reflects strong international confidence in Egypt’s renewable energy objectives and Hassan Allam Utilities’ capacity to execute such ambitious projects.

Transforming Egypt into a renewable energy hub

Set for completion by 2026, the Gulf of Suez wind farms are poised to reduce Egypt’s reliance on fossil fuels significantly. This aligns with Egypt’s broader climate targets to cut its carbon footprint and leverage solar, wind, and green hydrogen to meet its growing energy demands.

Hassan Allam Utilities has played a central role in advancing renewable energy projects that support both national and international sustainability goals. Through its expertise and vision, the company is positioning Egypt as a regional leader in clean energy development.

This wind farm project will be the largest onshore wind energy facility in the Middle East, highlighting Egypt’s emergence as a preferred destination for renewable energy investment.

The collaboration between Hassan Allam Utilities, ACWA Power, and international financial institutions illustrates the importance of partnerships in realizing ambitious renewable energy initiatives. The Gulf of Suez wind farms are a testament to Egypt’s commitment to a greener, more sustainable future and Hassan Allam’s role as a leader in that transformation.