Egypt’s renewable-energy drive gained further momentum after UAE-based Alcazar Energy Partners (AEP) and Siemens Gamesa Renewable Energy agreed to advance the 500 MW NIAT wind project, one of the country’s largest new onshore wind developments. The deal follows a Share Sale and Purchase Agreement under which AEP will assume full ownership and operational responsibility once regulatory approvals are finalised, while Siemens Gamesa—creator of the project—will remain a strategic technology partner and is expected to supply turbine systems.
Once operational, NIAT is expected to generate up to 2.5 TWh of clean electricity annually, enough to power 280,000 homes, and cut more than 1.2 million tonnes of CO₂ emissions each year. The project aligns with Egypt’s push to source 42 per cent of its power from renewables by 2030 and has already drawn interest from development finance institutions. Construction is projected to create up to 2,500 jobs.
The agreement strengthens AEP’s position as a key long-term investor in Egypt’s transition. The Dubai-based fund manager is already the largest equity investor in the Benban Solar Park, with four projects totalling 256 MWp, and last year signed an agreement with the government, EETC and NREA to develop a 2 GW onshore wind platform. In total, AEP has raised more than $730mn across its funds, mobilising nearly $2bn in foreign direct investment to deliver over 3.4 GW of clean-energy capacity across emerging markets.
For Siemens Gamesa, the partnership consolidates its deep roots in Egypt’s wind sector, where it has supplied technology for some of the largest installations in the Middle East. The NIAT project also dovetails with Egypt’s “New Narrative for Economic Development”, launched in September to attract green investment, boost GDP growth and accelerate job creation.
