MoU signed for 1.1 GW onshore wind project in Egypt
ACWA Power Company has signed a memorandum of understanding (MoU) with Oman Investment Authority (OIA) to explore bringing the sovereign wealth fund on as an investor for the 1.1GW Suez Wind Energy project in Egypt.
In accordance with conditions of the MoU, OIA will examine the potential for owning up to 10% of the project, which has a total estimated value of US$1.5 billion. A 25% share in the project is owned by the Egyptian engineering, construction, and infrastructure firm Hassan Allam Holdings, and the remaining stock is held by ACWA Power.
The wind facility will have the capacity to generate enough energy to power 1,080,000 households and will offset 2.4 million tonnes of carbon dioxide emissions per year. The project is expected to be complete in 2026.
Country news
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November 09, 2022
MoU signed for 10 GW Onshore wind project in Egypt
Masdar, along with Infinity Power and Hassan Allam Utilities, have signed a memorandum of understanding (MoU) to develop a 10 GW onshore wind project in Egypt.
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June 23, 2022
ACWA Power to develop 1.1 GW onshore wind project in Egypt
ACWA Power has signed a US$1.5 billion project agreement to build a 1.1 GW onshore wind farm project in Egypt.
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Commercial operation starts for 250 MW Onshore wind farm in Egypt
Lekela, the renewable power generation company announced that 250 MW West Bakr Wind farm starts commercial operations.
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Orascom Construction PLC has signed an agreement with the Egyptian Electricity Transmission Company (EETC) to develop, construct and operate a 500 MW wind farm in Ras Ghareb, Egypt.
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October 11, 2021
Contract awarded for 3 GW HVDC interconnection project between Egypt and Saudi Arabia
Hitachi ABB Power Grids has been selected as the lead in a consortium that has been awarded a major contract for HVDC interconnection from the Saudi Electricity Company and the Egyptian Electricity Transmission Company.
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