Suez Wind Energy
Project description
This early disclosure covers an application by ACWA Power Company, Meridiam, and other investors yet to be identified (collectively, the Guarantee Holders), for their equity/quasi-equity/shareholder loans investments and associated interests into Suez Wind Energy SAE (the Project Enterprise), which will develop a wind power project in Egypt (the Project). The Guarantee Holders are seeking a combined guarantees of up to US$ 300 million against the risks of Breach of Contract, Transfer Restriction, Expropriation and War and Civil Disturbance for a period of up to 25 years.
The Project involves the design, construction, operation, and maintenance of a 1,100 MW Suez wind farm, that is split between two plots located in Ras Gharib district in the Gulf of Suez. Plot 1 is the northern plot and has a capacity of 550 MW and Plot 2 is the southern plot, with a capacity of 550 MW. The Project will connect to the national grid through an overhead transmission line (“OHTL”), which is the responsibility of the state-owned Egyptian Electricity Transmission Company (EETC). The power generated by the Project will be sold to EETC under a 25-year build-own-operate power purchase agreement.
Environmental Categorization
The Project is Category A under MIGA Policy on Environmental and Social Sustainability (2013).
Through this early disclosure, MIGA provides early access to the Project’s Environmental and Social Impact Assessment (ESIA) and other relevant E&S documents.
Northern Plot documents
Suez Wind Farm Northern Plot E&S Impact Assessment
Suez Wind Farm Northern Plot E&S Management System Manual
Suez Wind Farm Northern Plot Non-Technical Summary
Suez Wind Farm Northern Plot Critical Habitat Assessment
Suez Wind Farm Northern Plot Biodiversity Management Plan
Suez Wind Farm Northern Plot Bat Addendum Report
Suez Wind Farm Northern Plot Hydrological Study
Suez Wind Farm Northern Plot Stakeholder Engagement Plan
Southern Plot documents
Suez Wind Farm Southern Plot E&S Impact Assessment
Suez Wind Farm Southern Plot E&S Management System Manual
Suez Wind Farm Southern Plot Non-Technical Summary
Suez Wind Farm Southern Plot Critical Habitat Assessment
Suez Wind Farm Southern Plot Biodiversity Management Plan
Suez Wind Farm Southern Plot Bat Addendum Report
Suez Wind Farm Southern Plot Hydrological Study
Suez Wind Farm Southern Plot Stakeholder Engagement Plan
Additional documents
Lenders’ E&S Action Plan
Suez Wind Farm Biodiversity Action Plan
Suez Wind Farm Interim Offset Feasibility Study
Migration of Soaring Birds at Gebel El Zeit IBA in relation to Wind Power Developments
The E&S documents (except the Lenders’ ESAP) were commissioned by ACWA and should not be taken as an indication that MIGA has completed its review of the Project. Any documentation included or attached herein has been prepared and authorized for public release by entities other than MIGA. MIGA does not guarantee the quality of the Project’s E&S documents and other relevant documents.
The disclosure of the Project’s E&S documents should not be construed as presuming the outcome of MIGA’s environmental and social (E&S) review. MIGA’s E&S due diligence will be carried out in accordance with the MIGA Policy on Environmental and Social Sustainability (2013). Details of MIGA’s findings and gaps to the MIGA Performance Standards on E&S Sustainability (2013) will be reflected in an Environmental and Social Review Summary (ESRS) for the Project, supplemented with an Environmental & Social Action Plan (ESAP), and published on MIGA’s website ahead of the Project’s consideration for approval, per MIGA’s Access to Information Policy (2013).
The Project’s E&S documents and other relevant documents are also available at the ACWA’s website:
Development Impact
The Project’s key expected benefits are: (i) climate benefits through greenhouse gas emissions avoidance; (ii) advancing Egypt’s progress on renewable energy development in support of the country’s broader development strategy; (iii) support for Egypt's resilience by diversifying its energy sources and supporting energy security; and (iv) mobilizing private investment into the country’s renewable energy sector.