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.
Country updates
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June 08, 2023
Agreement signed for securing land to develop 10 GW Wind project in Egypt
Masdar has collaborated with Infinity Power and Hassan Allam Utilities to acquire land for a 10 GW onshore wind project in Egypt.
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April 27, 2023
US$123 million financing secured for 200 MW Solar PV project in Egypt
ACWA Power has signed a US$123 million financing package to develop the 200 MW Kom Ombo solar photovoltaic project in Egypt.
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April 06, 2023
Financial close for 500 MW wind farm in Egypt
The Red Sea Wind Energy Consortium has announced the financial close, of the new 500 MW Gulf of Suez Wind Farm near Ras Ghareb, Egypt.
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December 01, 2022
AMEA Power closes US$1.1bn financing for 1 GW of Egyptian wind and solar projects
AMEA Power has achieved the financial close to delivering 1 GW of renewable energy projects in Egypt. The company's clean energy portfolio in the country now totals 2 GW after investing US$1.1 billion...
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November 22, 2022
Framework Agreement signed for 3.6 GW Hydrogen project in Egypt
Globeleq has signed a Framework Agreement to develop a large-scale green hydrogen facility within the Suez Canal Economic Zone, Egypt.
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