ACWA Power announced the signing of a 25-year Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company (EETC) for a landmark 2 GW wind project in Egypt.
Representing a significant investment of approximately USD 2.3 billion, the project will become the largest wind farm in Egypt, surpassing ACWA Power's existing 1.1 GW Suez Wind Farm. It will also be the largest single-asset Independent Power Producer (IPP) in the country.
The 2 GW wind project, which is targeted for Financial Close in 2026, will play an important role in supporting the Egyptian government to increase renewable energy share in its electricity generation mix to 42% by 2030. Moreover, the project is expected to reduce carbon dioxide emissions by more than 3.5 million tonnes annually.
Country updates
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January 02, 2025
ACWA Power secures financing for 1.1 GW Onshore wind farm in Egypt
ACWA Power together with consortium partner HAU Energy, a subsidiary of Hassan Allam Utilities, have achieved the financial close for the 1.1GW Suez Wind Farm located in the Gulf of Suez and the...
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December 04, 2024
EBRD to support expansion of 650 MW Wind Farm in Egypt
The European Bank for Reconstruction and Development (EBRD) has supported the expansion of the 650 MW Red Sea Wind Farm by extending a US$21.3 million loan to Red Sea Wind Energy.
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October 07, 2024
USD 32 million grant awarded from PtX Development Fund for Egypt Green Hydrogen project
Scatec ASA’s Egypt Green Hydrogen project has signed an agreement with the PtX Development Fund for a grant of EUR 30 million (USD 32 million) for partial financing of the project which will hav...
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September 19, 2024
Amea Power to build 1 GW of solar, 900 MWh of storage in Egypt
Dubai-based developer Amea Power has agreed to build a 1 GW solar plant with a 600 MWh battery energy storage system (BESS) and an additional 300 MWh BESS in Egypt’s Aswan governorate. The...
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September 16, 2024
Scatec signs PPA for 1 GW solar and 100 MW/200 MWh battery storage project in Egypt
Norwegian developer Scatec ASA has signed a 25-year power purchase agreement (PPA) with the Egyptian Electricity Transmission Company (EETC) for a 1 GW solar and 100 MW/200 MWh battery storage hybrid...
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