ACWA Power inked a project agreement to develop a 1.1GW wind project in Egypt at an investment value of USD1.5 billion.
The signing ceremony of the agreement took place at the headquarters of the Egyptian General Authority for Investment and Free Zones, Cairo, in the presence of Dr Mohamed Shaker El-Markabi, Egypt’s Ministry of Electricity and Renewable Energy; His Excellency Dr Majid Bin Abdullah Alkassabi, Saudi’s Minister of Commerce; His Excellency Dr Issam bin Saad bin Saeed, Minister of State and Cabinet member for Shoura Council affairs; HE Dr Hala Al Said, Egypt’s Minister of Planning and Economic Development; Counselor Mohamed Abdel Wahab, CEO of the General Authority for Investment and Free Zones “GAFI”; Eng. Osama Asran, Egypt’s Deputy Minister of Electricity and Renewable Energy; Eng. Gaber Desouky, CEO of the Egyptian Electricity Holding Company (EEHC); Dr Amjad Saeed, Advisor to the Minister; Eng. Sabah Mashali, Chairman of the Egyptian Electricity Transmission Company; Dr Mohammed El Khayat, Chairman of New and Renewable Energy Authority; and His Excellency Mohammad Abunayyan, Chairman of ACWA Power.
The ACWA Power-led consortium, comprising Hassan Allam Holding, will work together during the development phase to complete the site studies and secure the financing of this facility. Located in the Gulf of Suez and Gabal el Zeit area, this wind project is the largest single contracted wind farm in the Middle East region and one of the largest onshore wind farms in the world. The project will be designed to use state-of-art wind turbines with blade heights of up to 220 metres, which helps achieve the best use of the designated land plots in the most efficient way. When complete, the project will mitigate the impact of 2.4 million tonnes of carbon dioxide emissions annually and provide electricity to 1,080,000 households.