The OPEC Fund for International Development has approved a $40 million loan to support the construction of two wind farms in Egypt's Gulf of Suez, as per a statement.

The projects will collectively deliver a total capacity of 1.1 gigawatts (GW) and are expected to play a pivotal role in bolstering the country's renewable energy infrastructure.

Once operational, the wind farms will provide clean energy to over 1.3 million households, aligning with Egypt's long-term energy strategy.

This will contribute to the country’s target of sourcing more than 40% of electricity from renewables by 2035.

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