@Toyota: Toyota Tsusho to Expand Wind Power Plant under Construction in Egypt by 150 MW- To Build Africa’s Largest 654 MW Wind Power Facility –

2024-11-19

Toyota Tsusho Corporation (“Toyota Tsusho”) together with Eurus Energy Holdings Corporation (“Eurus Energy”), one of the Toyota Tsusho Group companies engaged in wind power business, is constructing the Gulf of Suez Wind Farm II (a power generation capacity of 504 MW) in the Arab Republic of Egypt (“Egypt”).

Toyota Tsusho announced today that in line with the Egyptian government’s policy to raise the portion of renewable energy generation to 42% of total power sources by 2030, Toyota Tsusho has revised the project plan by increasing capacity by 150 MW to achieve a total capacity of 654 MW.

This will make the Gulf of Suez Wind Farm II the largest wind farm in Africa in terms of installed capacity. Furthermore, the expansion will include the installation of 20 wind turbines generators with 7.5 MW which are the largest-class onshore wind generators in the world.

Located in the Gulf of El Zayt along the Gulf of Suez, the wind farm is being developed by four companies: Toyota Tsusho, Eurus Energy, France-based independent power producer Engie S.A., and Egypt’s Orascom Construction PLC. The construction commenced in March 2023, and commercial operation for the expanded capacity is scheduled to begin in August 2025. The generated electricity will be supplied to the Egyptian Electricity Transmission Company under a 25-year power purchase agreement upon completion.

The Gulf of Suez Wind Farm I is in operation in the same area (a power generation capacity of 262.5 MW, commenced commercial operation in October 2019), making the Gulf of Suez Wind Farm II Toyota Tsusho Group’s second wind power project in Africa. Combined, these plants will provide a total wind power capacity of 916.5 MW, contributing to the expansion of renewable energy in Egypt and its economic development.

Under the key message, “for the future children of Africa,” the Toyota Tsusho Group remains dedicated to conducting green business initiatives that solve challenges in society and support Africa’s economic growth.

Planned construction site
Gulf of Suez Wind Farm II under construction

Project Overview

Wind farm name

Gulf of Suez Wind Farm I Gulf of Suez Wind Farm II

Operating company name

Ras Ghareb Wind Energy SAE Red Sea Wind Energy SAE

Location

Gulf of El Zayt, Arab Republic of Egypt

Business description

Generation and sale of wind power

Investment ratio

Toyota Tsusho Group 40%
(Toyota Tsusho 30%; Eurus Energy 10%)
Engie S.A. 40%
Orascom Construction PLC20%
Toyota Tsusho Group 40%
(Toyota Tsusho 20%; Eurus Energy 20%)
Engie S.A. 35%
Orascom Construction PLC 25%

Power generation capacity

262.5MW (2.1MWx125 stations) 654MW
Original plan: 504MW (6MWx84 stations)
Expanded capacity:150MW (7.5MWx20 stations)
Electricity purchaser Egyptian Electricity Transmission Company
Total project cost Approx. USD 400 million Approx. USD 790 million (including USD 130 million for expansion)
Financial group Japan Bank for International Cooperation (JBIC), Nippon Export and Investment Insurance (NEXI), Sumitomo Mitsui Banking Corporation, Societe Generale (France) Japan Bank for International Cooperation (JBIC), Nippon Export and Investment Insurance (NEXI), Sumitomo Mitsui Banking Corporation, The Norinchukin Bank, Societe Generale (France), European Bank for Reconstruction and Development
Start of commercial operation October 2019 August 2025 (planned)

Our Efforts So Far

The information in this release is current as of the date of announcement.
Please note that information may change after the date of announcement. Thank you in advance for your understanding.

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