ACWA Power, recognized as the largest private water desalination firm globally and a frontrunner in energy transition and green hydrogen initiatives, has announced a landmark 25-year Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company (EETC) for a groundbreaking 2 GW wind project in Egypt.
This initiative represents a substantial investment of around USD 2.3 billion, making it the largest wind farm in Egypt, exceeding ACWA Power’s current 1.1 GW Suez Wind Farm. It will also be the biggest single-asset Independent Power Producer (IPP) in the nation, further establishing the company as the foremost renewable energy developer in Egypt and Africa, with a total investment of USD 8.8 billion and a gross capacity of 4.8 GW.
Scheduled for Financial Close in 2026, the 2 GW wind project is crucial for aiding the Egyptian government in raising the share of renewable energy in its electricity generation to 42% by 2030. Additionally, it is anticipated to cut carbon dioxide emissions by over 3.5 million tonnes each year, significantly contributing to Egypt’s climate change mitigation strategies.
Mohammad Abunayyan, Founder and Chairman of the Board of Directors of ACWA Power, stated, “Our partnership with EETC strengthens the robust and lasting relationship between ACWA Power and the Egyptian government, promoting sustainable development vigorously over the last decade. This agreement is a pivotal move in accelerating the country’s ambitious energy transition, confirming ACWA Power as the leading private power investor in Africa.”
Since 2015, ACWA Power has maintained a presence in Egypt, currently operating two additional facilities, including a 120 MW solar PV project in Benban and a 200 MW solar PV facility in Kom Ombo.
Source :ACWA Power
