Alcazar Energy Partners and Siemens Gamesa Renewable Energy have advanced progress on the 500 MW NIAT wind project in Egypt, following a share sale and purchase agreement under which Alcazar will assume full ownership and operational control pending regulatory approvals.
Siemens Gamesa will remain a strategic technology partner and is expected to supply the turbines. Once operational, the project will generate 2.5 TWh of electricity annually and avoid 1.2 million tonnes of CO₂ emissions each year. The project supports Egypt’s target of sourcing 42 per cent of its electricity from renewables by 2030. Alcazar is already a major investor in the Benban Solar Park and has committed to develop a 2 GW onshore wind platform in partnership with EETC and NREA.