Egypt signs deals with UAE's Alcazar Energy for wind power project in Red Sea

CAIRO - Egypt signed investment, operation and power purchase agreements on Monday for the 580-megawatt Jabal El-Zeit wind power plant in the Red Sea region, a project valued at $420 million, the cabinet said.

The deals were signed between Egypt's New and Renewable Energy Authority, the Egyptian Electricity Transmission Company, and Dubai-based private energy firm Alcazar Energy.

By securing this partnership, Egypt is leveraging Gulf capital and private sector expertise to rapidly scale its domestic energy infrastructure. The Jabal El-Zeit area is globally recognized as one of the most optimal corridors for wind energy generation due to its high, sustained wind speeds along the Red Sea coast.

Powering the Grid, Reducing Carbon

Once fully operational, the 580-MW capacity of the Jabal El-Zeit plant will inject a massive volume of clean electricity into Egypt's unified national grid. The project is anticipated to power hundreds of thousands of households while significantly offsetting carbon emissions, directly supporting Cairo’s goal to source 42% of its electricity from renewable generation by 2030.

The $420 million foreign direct investment also injects fresh momentum into the Egyptian economy. For Alcazar Energy, the project expands its growing portfolio of sustainable infrastructure assets across the Middle East and Africa, cementing its role as a premier developer of utility-scale renewable energy.