ENGIE and its consortium partners announced that the 900MW Shokeir Wind Farm, also known as Gulf of Suez Wind Farm 3, has achieved financial close.

The wind farm is situated near Ras Shokeir on the Gulf of Suez and will be developed under a 25‑year build‑own‑operate model by ENGIE, Aeolus and Orascom Construction.

Construction began in June 2026; the first 300MW phase is slated for commissioning in January 2028, with full capacity targeted for connection by summer 2028.

The consortium’s ownership split assigns 35% to ENGIE, 40% to Aeolus and 25% to Orascom Construction, which will also handle civil and electrical balance‑of‑plant works and supply selected local components.

Financing is provided on a non‑recourse basis by a consortium of development finance institutions and commercial banks, including JBIC, PROPARCO, FMO, Societe Generale, Credit Agricole CIB and KfW IPEX‑Bank, with insurance from NEXI and equity bridge loans from KfW, Mizuho, FMO and British International Investment.

When operational, the wind farm is expected to generate enough electricity for more than 1.4 million Egyptian households and cut carbon emissions by roughly two million tonnes per year.

The facility will sell power to the Egyptian Electricity Transmission Company under a 25‑year power purchase agreement, reinforcing Egypt’s renewable‑energy targets and expanding the consortium’s total wind capacity in the country to about 1.8 GW.