Acwa Power plans 10GW wind energy project in Egypt

Acwa Power plans 10GW wind energy project in Egypt

Acwa Power, a leading Saudi developer, investor and operator of power generation, desalinated water and green hydrogen plants worldwide, has reached an agreement with Egyptian authorities for the development of a 10 GW project in the Arab nation that will see the utility developer produce electricity from wind energy.

The MoU has been agreed with Egypt’s New & Renewable Energy Authority and Egyptian Electricity Transmission Company, said a statement from the Saudi Ministry of Energy.

Egypt will be providing the lands necessary to carry out feasibility studies for the project ahead of the signing of the final contracts.

The initial agreement was signed in the presence of Egypt's Minister of Electricity and Renewable Energy Mohamed Shaker, who is on an official visit to Saudi Arabia, and Saudi Energy Minister Prince Abdulaziz bin Salman in Riyadh.

The Saudi ministry said the final agreements will be dependent on feasibility studies, as well as the availability of land.

Later the two ministers followed up on the progress of the electrical interconnection between the two countries and discussed aspects of cooperation in the fields of renewable energy and hydrogen, said the statement.

The agreement comes days before the UN's Cop27 climate summit takes place in Sharm El Sheikh from November