Renewable-energy investor Alcazar Energy Partners (AEP) is in advanced discussions to acquire the 500-MW Niat wind-farm project in Egypt from Siemens Gamesa Renewable Energy, an onshore wind developer now fully owned by Siemens Energy AG (ETR:ENR), according to RenewablesNow and other trade press reports.

The Niat project, located in Egypt’s Gulf of Suez wind corridor, is one of several large-scale wind schemes intended to support Cairo’s plan to raise the share of renewables in the generation mix under its 2030–2035 energy strategies. Siemens Gamesa is understood to have originated and advanced the project before the proposed transfer of development rights to Alcazar.

Sector sources indicate that any deal structure is likely to involve the acquisition of project rights or the special-purpose vehicle holding the Niat asset, subject to approvals from Egyptian authorities and the New and Renewable Energy Authority (NREA). It remains unclear whether a binding share purchase agreement has been signed, or whether the parties are still at term-sheet or exclusivity stage.

The project is expected to feed into the national grid through existing and planned transmission upgrades in the Gulf of Suez region, a key hub for Egypt’s wind pipeline. However, timelines for financial close and construction have not been publicly confirmed, and large onshore wind projects in the country have frequently faced multi-year permitting, grid-integration and financing delays.

Alcazar Energy Partners focuses on utility-scale renewable assets in emerging markets across the Middle East, North Africa and Eastern Europe, typically entering projects at early or mid-stage development. The proposed Niat acquisition would fit its strategy of acquiring and de-risking sizeable wind pipelines in jurisdictions with established regulatory frameworks and long-term offtake arrangements.