Saudi ACWA Power explores $10B wind power generation project in southern Egypt – Egypt Today

Saudi ACWA Power explores $10B wind power generation project in southern Egypt – Egypt Today

CAIRO - 1 January 2024: Saudi-based company ACWA Power is discussing the implementation stages of the wind power plant project in West Sohag, southern Egypt, with the Egyptian Ministry of Electricity, to produce 10 gigawatts at a total investment cost of about $10 billion.

 

“The wind power station project in West Sohag is gigantic and will be implemented in several stages. The Egyptian government has allocated the land,” a company official told Al Arabiya Business.

 

The official added that the first phase of the project may be around 25 percent of the total targeted capacity, with an investment cost of $2.5 billion. Technical studies related to wind are currently underway, followed by financial closure studies for project financing.

 


ACWA Power's investments in Egypt amount to about $2 billion, distributed among solar and wind energy stations, with plans to inject new investments into water desalination projects. 

 


"The company is interested in the rehabilitation studies for these stations, which the Egyptian government intends to offer in the future. Once any opportunity in this regard arises, we will pursue it along with green hydrogen,” the official stated.

 

He explained that the company has signed a memorandum of understanding (MoU) in this regard with the Suez Canal Economic Zone,