Saudi’s ACWA Power granted land for 10GW wind project in Egypt

Saudi’s ACWA Power granted land for 10GW wind project in Egypt

Saudi Arabia-based ACWA Power has signed a memorandum of understanding (MoU) with Egypt’s New and Renewable Energy Authority (NREA). The MoU involves the allocation of land for a 10GW wind project in Egypt. Dr Mohamed Shaker Al-Marqabi, Egypt’s Minister of Electricity and Renewable Energy, stated: “Egypt has adopted an ambitious programme to advance the electricity sector in various fields, which includes maximising the utilisation of new and renewable energy resources, encouraging investment in these fields to enable energy independence from fossil fuels, continuing to reduce carbon emissions, and increasing renewable energy capacity in the energy mix up to 42 per cent by 2035. “This focus also aligns with Egypt’s Vision 2030 and the National Climate Strategy 2050 to mitigate the impact of climate change challenges and achieve sustainable economic growth.” Al-Marqabi added: “We foresee that the positive contributions with financing institutions and development partners, as well as the comparative advantages of Egypt in terms of the availability of land, will show that Egypt has what it takes to produce renewable energy for domestic consumption and export.” The MoU allocates approximately 3,000 square kilometres of land west of Sohag, an urban centre, for the project. The wind project is expected to