Investment-ready
Ras Ghareb Wind Energy Project
Grid connected electricity generation from renewable sources
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Egypt
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Renewable energy - wind
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262.5 MW
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730,788 tCO2e per annum
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15 year crediting period
Partners
Standards
Location
Ras Ghareb, Red Sea Governorate 1991101, Egypt
Grid connected 262.5 MW Wind Energy Project
Successfully transitioned from the UNFCCC’s Clean Development Mechanism to the Gold Standard
EcoSecurities and Ras Ghareb Wind Energy S.A.E. (RGWE) a special purpose joint venture comprising of Engie, Toyota-Tsusho – Eurus Energy and Orascom Construction developed this grid connected wind energy project initially under the UNFCCC’s Clean Development Mechanism, transitioning to the Gold Standard in February 2024.
The project is located on the Gulf of Suez, Egypt, and has an installed capacity exceeding 262.5 MW. Construction commenced in 2018, reaching full capacity in December 2019 and has since been supplying clean electricity to approximately 500,000 Egyptian households. In 2022 alone, the wind farm generated 1,257,502 MWhr, resulting in the issuance of over 1 million carbon credits for the period December 2020 – July 2022.
This project aligns with Egypt’s ambitious renewable energy goals, with the country aiming to produce 42% of electricity from renewables by 2035, whilst reducing GHG emissions from the power sector by 37%.
RGWE is benefitting from carbon financing – enabling the project to attract the further investment that it needs to continue to scale. Obtaining project financing for renewable energy in developing countries can often be challenging as there is a perception that it comes with greater risk.
Image gallery
Image gallery
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RGWE Wind Energy Project
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Los Llanos Solar Park
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On the ground impact
RGWE co-benefits and impact on the ground includes:
- Providing 500,000 Egyptian households with renewable energy
- Supporting Egypt’s goals of reducing GHG emissions from the power sector
- Increasing Egypt’s renewable energy generation capacity by around 1,250,000 MWhr a year
- Community engagement (CSR) – enhancing facilities at local hospitals, medical clinics, schools and nurseries and provision of scholarships.
Supporting the SDGs
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7 – Affordable & Clean Energy
262.5 MW of annual energy supplying 500,000 households
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8 – Decent work & economic growth
Providing high quality jobs in the local area
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9 – Industry, Innovation & Infrastructure
Supporting Egypt’s goal of cutting GHG emissions from the power sector
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13 – Climate action
Annual emissions reduction: 730,788 tCO2e
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