Luxembourg-based Alcazar Energy has successfully obtained a significant €46.5 million equity investment from the United States International Development Finance Corporation (DFC) to bolster its renewable energy ventures across the Middle East, North Africa, Eastern Europe, and Central Asia. This investment is designed to enhance energy resilience and diversify the energy mix within these regions.
Alcazar Energy, currently managing the development of almost 500 MW of wind power in the Western Balkans, plans to use the funds for greenfield photovoltaic and onshore wind projects. The primary focus will be on Egypt, Jordan, Turkey, Montenegro, and North Macedonia, highlighting a strategic commitment to transitioning away from fossil fuels towards sustainable energy solutions.
The partnership with DFC stands as a strong endorsement of Alcazar’s capabilities in sustainable infrastructure management in emerging markets. Daniel Calderon, co-founder and managing partner of Alcazar Energy, shared his enthusiasm about the collaboration. “We are extremely excited to be partnering with DFC, which has announced a €46.5 million investment into our strategy. Having acquired to date 456 MW of wind projects under development across the Western Balkan region, we remain committed to building the first 1 GW portfolio in a region poised to greatly benefit from the energy transition,” stated Calderon.
Among recent acquisitions by Alcazar is the Bijela wind farm project in Šavnik, Montenegro, a 118 MW venture with an estimated cost of €186 million. This initiative forms part of a broader goal to achieve a target fund size of €465 million, aimed at leading the shift towards renewable energy in its focus regions.
