Acwa Power, a global leader in the development and operation of water desalination and power generation facilities, said that it has reached a deal with Egypt’s New and Renewable Energy Authority (NREA) to establish a 10-gigawatt (GW) wind project.
According to a statement from Acwa Power, the wind power facility is anticipated to save the Egyptian economy $6.5 billion in yearly natural gas expenses and provide up to 120,000 job opportunities.
Under the deal, NREA will allocate approximately 3,000 square kilometers of land west of Sohag for the project.
On completion, the wind project is expected to generate around 50,000 GW-hours of clean energy annually, providing electricity to around 11 million households and mitigating the impact of 25.5 million metric tons of carbon emissions each year.
The company has three other facilities in Egypt that are either in operation, under construction, or in advanced development, including a 120 MW solar PV project in Benban, a 200 MW solar PV facility in Kom Ombo, and the 1.1 GW Suez Wind Energy project.
Speaking at the signing ceremony, Dr. Mohamed Shaker Al Marqabi, the Minister of Electricity and Renewable Energy, said: “Egypt has adopted an ambitious program to advance the electricity sector in various fields, which includes maximizing the utilization 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% by 2035.”
“This focus also aligns with Egypt’s Vision 2030 and the National Climate Strategy 2050 with a view to mitigating the impact of climate change challenges and achieving sustainable economic growth,” he stated.
The agreement was signed by Dr. Mohamed El Khayat, Chairman of NREA, and Engineer Hassan Amin, Country Director, Egypt, Acwa Power, in the presence of Dr. Moustafa Madbouly, Prime Minister of Egypt, and Dr. Mohamed Shaker, the Egyptian Minister of Electricity, as well as senior officials of Acwa Power led by its CEO Marco Arcelli.
Arcelli said the signing furthers the group’s commitment to driving sustainable development and powering Egypt’s future with clean, reliable, and renewable energy.
“We are determined to harness the vast potential of wind power, creating jobs, reducing emissions, and ensuring a greener and brighter future for Egypt, in alignment with ACWA Power’s vision for a sustainable planet,” he added.
