Acwa Power-led consortium closes $1.5bln Egypt wind project

Acwa Power-led consortium closes $1.5bln Egypt wind project

Saudi Arabia - A consortium led by Acwa Power, a leading Saudi developer, investor and operator of power generation, desalinated water and green hydrogen plants worldwide, today (June 21) signed a project agreement to develop a 1.1GW wind project in Egypt, at an investment value of $1.5 billion.

The agreement was signed at the headquarters of the Egyptian General Authority for Investment and Free Zones, Cairo during HRH Mohammed Bin Salman, the Saudi Crown Prince’s state visit to Egypt.

As per the deal, 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 the 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 m which helps in achieving the best use of the designated land plots in the most efficient way.

When complete, the project will mitigate the impact of 2.4 million tonnes of carbon dioxide emissions per year and provide electricity to 1,080,000 households.

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