Alcazar Energy Partners (AEP) has signed a share sale and purchase agreement with Siemens Gamesa Renewable Energy (SGRE), formalising a partnership for the final development, construction and operation of the 500MW NIAT wind project in Egypt.
AEP said that once the transaction closes and required approvals are secured, it will assume full ownership and operational responsibility for the project. Siemens Gamesa, which initiated and advanced the development, is expected to remain a strategic partner and provide turbine technology and related services under the partnership framework.
AEP said the agreement supports its broader strategy to expand renewable energy in Egypt and across the Middle East and North Africa region. The NIAT project is expected to contribute to Egypt’s national target of generating 42% of its electricity from renewable sources by 2030.
According to the company, the wind farm is projected to produce up to 2.5 terawatt-hours of electricity annually, avoid more than 1.2 million tonnes of CO₂-equivalent emissions per year and supply power to as many as 280,000 households.
AEP said it will work closely with Siemens Gamesa during the advanced development phase, combining technical, commercial and execution capabilities to move the project toward financial close and the start of construction. The project is expected to create up to 2,500 jobs during construction and operation and has already drawn interest from several development finance institutions.
The partners aim to deliver a utility-scale project aligned with Egypt’s renewable energy objectives. “Siemens Gamesa has played a central role in installing large scale wind projects across the region and we are pleased to partner with them once again as we advance the NIAT wind farm,” said AEP’s Daniel Calderon. “This project is an important contribution to Egypt’s clean energy transition and a strong addition to Alcazar Energy Partners’ growing portfolio.”
AEP said it has been active in Egypt’s renewable energy sector since 2014 and is the largest equity investor in the Benban Solar Park, where it developed four projects with a combined capacity of 256MWp. In November 2024, the company also signed an agreement with the Egyptian government and energy authorities to develop a 2GW onshore wind platform.
