The African Development Bank (AfDB) has won the prestigious “Infrastructure Deal of the Year” award at the 2025 African Banker Awards for its leading role in financing Egypt’s landmark 1.1 GW Suez Wind Power Project.
Located in the Gulf of Suez, the $1.04 billion wind farm will be Africa’s largest when operational in 2027. The AfDB mobilized $140 million for the project, which features 138 state-of-the-art Envision turbines — each with an 8 MW capacity — being deployed in Africa for the first time. Jointly developed by Suez Wind Energy S.A.E., a consortium including ACWA Power, Hassan Allam Utilities, Meridiam, and the European Bank for Reconstruction and Development (EBRD), with equity backing from Oman Investment Authority and Egypt’s Sovereign Fund, the project represents a flagship model of public-private collaboration.
Expected to generate 4,111 GWh annually — enough to power over one million homes — the project will reduce carbon emissions by 1.71 million tons per year. It will also create over 1,700 jobs during construction, with a focus on youth and gender inclusion. Egypt’s Minister Rania A. Al-Mashat praised the project as a key component of the country’s NWFE (Nexus of Water, Food, and Energy) program. The AfDB’s recognition reinforces its role as a transformative force in Africa’s renewable energy transition.