According to Reuters article published on April 5 , 2023, Red Sea Wind Energy has signed a $680 million agreement with banks and international financing organisations for establishing a wind farm in Egypt's Gulf of Suez, the Egyptian cabinet said in a statement on Wednesday.
The 500 megawatt wind farm is to be located near Ras Ghareb city and is "one of the biggest wind energy projects in Egypt and Africa", according to Egypt's minister of electricity and renewable energy.
