Gulf of Suez Wind Farm III is planned for Egypt’s Gulf of El Zayt area. Credit: Marc Dornbusch/Shutterstock.com.

AEOLUS, a Toyota Tsusho Group company, has announced the financial close of the Gulf of Suez Wind Farm III project in Egypt, a development set to add 900MW of wind power capacity to the country’s grid.

The wind farm will be constructed in the Gulf of El Zayt area along the Gulf of Suez, furthering Egypt’s renewable energy initiatives.

The project will be developed by Shokeir Wind Energy, a joint venture comprising AEOLUS, which holds a 40% stake, ENGIE with 35%, and Orascom Construction with the remaining 25%.

The wind farm will use 86 turbines, each with a capacity of 10.5MW.

This development represents AEOLUS’ third wind investment in Egypt.

Power generated from Gulf of Suez Wind Farm III will be sold to the Egyptian Electricity Transmission Company under a 25-year power purchase agreement (PPA).

According to the project timeline, commissioning of the initial 300MW is expected to begin in January 2028, with the entire facility scheduled for full commercial operation by September 2028.

AEOLUS president Hideharu Toba said: “We are delighted to achieve financial close for the Gulf of Suez Wind Farm III together with our trusted partners ENGIE and Orascom Construction.

“As our third wind power investment in Egypt and, at 900MW, the largest renewable energy project undertaken by the Toyota Tsusho Group to date in terms of generation capacity, this represents another important milestone in our long-term commitment to Egypt.

Financing for the project has been provided by a consortium comprising the Japan Bank for International Cooperation (JBIC), Proparco, the Netherlands Development Finance Company (FMO), Société Générale, Crédit Agricole CIB and KfW IPEX-Bank.

The portion of financing from commercial banks is insured by Nippon Export and Investment Insurance (NEXI).

Toyota Tsusho previously contributed to the 262.5MW Gulf of Suez Wind Farm I, which began commercial operations in October 2019, and the 654MW Gulf of Suez Wind Farm II, which is scheduled to begin operations in June 2025.

With the completion of the third site, the three wind farms are projected to reach a combined capacity of approximately 1.8GW.

Toyota Tsusho has set a goal of reaching 3GW of renewable energy generation capacity across Africa by 2030.

The group views the Gulf of Suez Wind Farm III as a significant step towards this objective, and plans to further support economic growth and emissions reduction in the region by providing a reliable supply of renewable electricity.

In April 2026, AEOLUS commenced the commercial operation of two solar power plants in Tunisia with a total capacity of 100MW.