ACWA Power and the New and Renewable Energy Authority (NREA) have signed a Memorandum of Understanding (MOU) for the allocation of land outside Sohag, Egypt, for a 10 GW wind project agreement.
ACWA Power joins forces with NREA to develop a large-scale wind farm in Egypt
Egyptian Electricity Transmission Company (EETC), and NREA in November 2022 The wind farm is expected to be one of the largest in the Cairo region of Egypt. ACWA Power, a listed Saudi Arabian company and the world’s largest private water desalination company, the first green hydrogen pioneer and a leader in the energy transition, today signed a Memorandum of Understanding (MOU) with the New and Renewable Energy Authority (NREA) for the allocation of land for a 10 GW wind power project in Egypt.
The agreement was signed at the Council of Ministers headquarters in the new town of El Alamein, by Dr. G. B. B. B., Chairman of the Council of Ministers and President of the Board of Directors. Mohamed El Khayat, President of NREA, and engineer Hassan Amin, Director at ACWA Power.
The signing ceremony took place in the presence of Dr. Dr. Moustafa Madbouly, Egyptian Prime Minister Mohamed Shaker, Egyptian Minister of Electricity, Mr. Mazyad bin Muhammad Al-Huwaishan, Consul General of Saudi Arabia in Alexandria, Eng. Sabah Mashaly, Chairman of the EETC; and Marco Arcelli, CEO, ACWA Power.
The MOU marks the next step in the development of this large-scale renewable energy facility. The MOU allocates around 3,000 square kilometers of land west of Sohag, an urban center, for the project.
A 10 GW project for massive savings and reduced carbon emissions
The wind project is expected to generate around 50,000 gigawatt-hours of clean energy per year, providing electricity to around 11 million homes and mitigating the impact of 25.5 million tonnes of carbon emissions each year.
The 10 GW wind power plant is expected to save the Egyptian economy money. Up to US$6.5 billion in annual natural gas costs. In addition to creating up to 120,000 jobs. It is estimated that 45,000 direct jobs will be created during the construction phase, and around 75,000 indirectly. In addition, around 2,500 jobs will be created for the post-completion operation and maintenance phase.
“Today’s signing reinforces our commitment to fostering sustainable development and securing Egypt’s future with clean, reliable and renewable energy.
We’re committed to harnessing the vast potential of wind power, creating jobs, reducing emissions and securing a greener, brighter future for Egypt, in line with ACWA Power’s vision for a sustainable planet.”
Marco Arcelli, Managing Director of ACWA Power ACWA Power has three other facilities in Egypt. Which are either in operation, under construction or in advanced development. Including a 120 MW solar photovoltaic project in Benban, a 200 MW solar photovoltaic installation in Kom Ombo, and the 1.1 GW wind power project in Suez. The company has been present in Egypt since 2015.
