ACWA Power, a leading Saudi developer, investor and operator of power generation, desalinated water and green hydrogen plants worldwide, today inked a project agreement to develop a 1.1GW wind project in Egypt, at an investment value of US$1.5 billion. 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 in achieving the best use of the designated land plots in the most efficient way.
This milestone wind project falls within the framework of the Egyptian government’s strategy to diversify its energy sources and leverage the country’s rich natural resources, especially in renewable energy. The Ministry of Electricity and Renewable Energy is taking concrete actions to ensure the resilience of our energy strategy, because of the escalating changes that the world is witnessing, which aim to increase the contribution of renewable energy to up to 42% by 2035. Egypt has embarked on a serious economic reform programme sending a clear invitation to the private sector to support in building a greener and brighter future.