ACWA Power signs first $1.5 billion wind project in Egypt

A consortium led by ACWA Power (with local contractor Hassan Allam Holding) recently signed a 1.1GW onshore wind project with the Egyptian government. The project is located in the Gulf of Suez and Gabal El Zeit region with an investment of about us $1.5 billion.

The project is one of the largest onshore wind farms in the world and the largest in the Middle East.

ACWA Power signs first $1.5 billion wind project in EgyptACWA Consortium plans to close its financing by the third quarter of 2024 and enter commercial operation by the end of 2026.

The wind power project is ACWA's first wind power project in Egypt and its third project in The country. The other two projects are the 120MW Local solar IPP project and the 200MW Kom Ombo solar project.

The project is expected to provide electricity to 1.08 million households and is expected to meet the electricity needs of 130,000 households in Egypt and reduce carbon emissions by 336,000 tons. It is part of the Egyptian government's framework to achieve energy diversity. Egypt's Ministry of Electricity and Renewable Energy plans to increase the share of electricity generated from renewable sources to 42 percent by 2035.

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