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ENGIE Expands Africa’s Largest Wind Farm to Bolster Renewable Energy in Egypt
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ENGIE Expands Africa’s Largest Wind Farm to Bolster Renewable Energy in Egypt

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An announcement from Engie SA ( (FR:ENGI) ) is now available.

ENGIE has announced the expansion of the Red Sea Wind Energy park in Egypt, increasing its capacity from 500 MW to 650 MW, making it the largest wind farm in Africa. This extension, developed with partners including Orascom Construction and Toyota Tsusho, strengthens ENGIE’s position in the renewable energy sector in Africa and the Middle East. The wind farm’s production will be purchased by the Egyptian Electricity Transmission Company for 25 years, contributing to Egypt’s renewable energy goals by reducing CO2 emissions and powering over one million households. ENGIE’s total wind capacity in Egypt will rise to 912.5 MW, consolidating its leadership in the region’s transition to renewable energy.

More about Engie SA

ENGIE is a global leader in low-carbon energy and services, committed to accelerating the transition to a carbon-neutral world. With a substantial workforce of 97,000 employees, the company offers energy-efficient and environmentally friendly solutions across its key businesses, including gas, renewable energies, and services. ENGIE is listed on major financial indices, reflecting its strong economic performance and dedication to positive environmental impact.

YTD Price Performance: 1.89%

Average Trading Volume: 1,671,086

Technical Sentiment Consensus Rating: Strong Sell

Current Market Cap: €38.05B

For detailed information about ENGI stock, go to TipRanks’ Stock Analysis page.

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