ACWA Power, NREA Sign MoU for 10 GW Wind Project in Egypt

ACWA Power, a private water desalination, power generation, and renewable energy company in Saudi Arabia, signed a memorandum of understanding (MoU) with the New and Renewable Energy Authority (NREA) to allocate land for a 10 GW wind project in Egypt.

“Egypt has adopted an ambitious program to advance the electricity sector in various fields, which includes maximizing the utilization of new and renewable energy resources, encouraging investment in these fields to enable energy independence from fossil fuels, continuing to reduce carbon emissions, and increasing renewable energy capacity in the energy mix up to 42% by 2035,” said Dr. Mohamed Shaker Al-Marqabi, Minister of Electricity and Renewable Energy. “This focus also aligns with Egypt’s Vision 2030 and the National Climate Strategy 2050 with a view to mitigating the impact of climate change challenges and achieving sustainable economic growth.”

The agreement was signed in El Alamein between Dr. Mohamed El Khayat, Chairman of NREA, and Eng. Hassan Amin, Country Director – Egypt, ACWA Power. The 10 GW wind power plant is expected to provide the Egyptian economy with US$6.5 billion in savings in annual natural gas costs, in addition to creating up to 120,000 job opportunities.

“The MoU allocates approximately 3,000 square km of land west of Sohag, an urban center, for the project. The wind project is expected to generate around 50, 000 GW-hours of clean energy annually, providing electricity to around 11 million households and mitigating the impact of 25.5 million tons of carbon emissions each year,” said Marco Arcelli, CEO of ACWA Power. “Today's signing furthers our commitment to driving sustainable development and powering Egypt's future with clean, reliable, and renewable energy. We are determined to harness the vast potential of wind power, creating jobs, reducing emissions, and ensuring a greener and brighter future for Egypt, in alignment with ACWA Power's vision for a sustainable planet.”

ACWA Power has three other facilities in Egypt that are in operation, under construction, or in advanced development, including a 120 MW solar PV project in Benban, a 200 MW solar PV facility in Kom Ombo, and the 1.1 GW Suez Wind Energy project.