Egypt is catching the wind

• EUR 72 million to finance the Gulf of Suez wind farm
• Power supply for 370,000 people
• Savings of roughly 300,000 tonnes CO2 every year
• Developing the vast Egyptian renewable energy potential

Together with the financing partners European Investment Bank (EIB), Agence Française de Développement (AfD) and the European Commis-sion KfW, on behalf of the Federal Ministry for Economic Cooperation and Development (BMZ), has signed a financing agreement with the Egyptian Ministry of International Cooperation for the Gulf of Suez wind farm in the Red Sea coastal region. The total costs of the wind farm including the associated infrastructure amount to EUR 340 million, of which KfW's share is EUR 72 million. The wind farm will have a capacity of 200 to 250 MW and supply power to 370,000 people. In addition, savings of roughly 300,000 tonnes of CO2 will be made. The wind farm will make a material contribution to the Egyptian renewable energy expansion plan, according to which 20 percent of Egyptian electricity generating capacity should come from renewable energies by 2022.

"Egypt's energy supply is subject to immense limitations. Against the background of ongoing economic and population growth, there is an urgent need for investment to secure the electricity supply. It is also an important prerequisite for the stability of the Mediterranean state," said Dr Norbert Kloppenburg, member of KfW's Executive Board.

EIB is participating in the project with a EUR 115 million loan, AfD with EUR 50 million and the European Commission with a grant of EUR 30 million.

In response to the fact that the project is located at the edge of a major bird migration route, extensive measures have been taken to protect the migratory birds.

Further information on KfW Development Bank is available at www.kfw-entwicklungsbank.de.