ACWA Power has signed a memorandum of understanding (MoU) with the New and Renewable Energy Authority (NREA) of Egypt for a 10 GW wind project. The MoU sets the stage for the development of a large-scale renewable energy facility, which has the potential to generate 50 thousand GWh of clean energy annually and serve up to 11 million households.
Approximately 3,000 sq. km. of land west of Sohag have been allocated by the NREA for the project, which is expected to provide US$6.5 billion in savings in annual natural gas costs.
ACWA Power has already established a strong presence in Egypt, with three other facilities either in operation, under construction, or in advanced development. These include 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. The company began its operations in Egypt in 2015.
