What is the capacity of the Red Sea Wind Energy project?

The Red Sea Wind Energy project has a capacity of 650 megawatts (MW), which can power more than a million households annually.

Why is Engie focusing on the Middle East and North Africa?

Engie is prioritizing the Middle East and North Africa due to rising economic development, expected increases in power consumption, and faster administrative processes.

What other renewable energy projects is Engie pursuing in Morocco?

Engie signed a preliminary deal with Morocco's OCP to explore renewable energy, ammonia, and green hydrogen projects starting in 2026.

What challenges is Engie facing in Europe and the U.S.?

Engie is encountering sluggish permitting processes in Europe and frozen offshore wind leases in the U.S., prompting a shift in focus to the MENA region.

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Home > Finance > Engie targets speedy renewables growth in Mideast, North Africa

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Engie targets speedy renewables growth in Mideast, North Africa

Q: Who are the partners involved in the Red Sea Wind Energy project?

The Red Sea Wind Energy project is owned by Engie (35%), Orascom Construction PLC (25%), Toyota Tsusho Corporation (20%), and Eurus Energy Holdings Corporation (20%).

Published by Global Banking & Finance Review®

Posted on July 1, 2025

2 min read

Last updated: January 23, 2026

Engie targets speedy renewables growth in Mideast, North Africa - Finance news and analysis from Global Banking & Finance Review

Engie Aims for Rapid Renewable Energy Expansion in MENA Region

By America Hernandez

PARIS (Reuters) -French utility Engie has completed Africa's largest wind farm four months early, it said on Tuesday, as it targets the Middle East and North Africa as a priority region for future renewables growth.

The 650 megawatt (MW) Red Sea Wind Energy project in Egypt project can power more than a million households annually, at a time when electricity shortages have forced the country to spend billions buying liquefied natural gas, turning it into a net gas importer for the first time last year.

"This renewable energy is cheaper than burning gas or other fossil energy, because the price is lower, so it clearly allows for burning less gas and for the country to either import less gas or export more," François Xavier Boul, Engie's managing director for the Middle East and Africa, told Reuters.

As permitting remains sluggish in Europe and U.S. offshore wind leases have been frozen under President Trump, Engie now hopes projects in the Middle East and North Africa can help it meet its 2030 target of reaching 95 GW of installed renewable capacity, up from around 51 GW today.

Boul said rising economic development, an expected increase in power consumption, administrative fast-tracking and short project lead times has led Engie to prioritize tenders to build in Egypt, Morocco, the United Arab Emirates and Saudi Arabia.

Red Sea Wind Energy is Engie's second wind project in Egypt, with a third site in development that will exceed 900 MW when built.

Last year Engie signed a preliminary deal with Morocco's phosphates and fertilizer giant OCP to explore renewable energy, ammonia and green hydrogen projects beginning in 2026.

Boul said in the short and medium-term, Engie's focus in the Middle East and North Africa region were on solar, wind, battery and hybrid projects.

Red Sea Wind Energy is owned by Engie (35%), Orascom Construction PLC (25%), Toyota Tsusho Corporation (20%) and Eurus Energy Holdings Corporation (20%).

(Reporting by America Hernandez in Paris; editing by David Evans)

Engie targets speedy renewables growth in Mideast, North Africa

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Engie Aims for Rapid Renewable Energy Expansion in MENA Region

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