Saudi’s ACWA Power to develop 1.1GW onshore wind project in Egypt
It is expected to operate by the end of 2026.
Saudi Arabia-based developer ACWA Power has signed an agreement for the development of a 1.1-gigawatt (GW) wind project in Egypt with an investment value of $1.5b.
In a statement, the developer said the project is located in the Gulf of Suez, and Gabal el Zerit area. It is also the largest single contracted wind farm in the Middle East and is one of the largest onshore wind farms globally.
Financial close for the project is forecasted by the third quarter of 2024, and the plant is expected to be commercially operational by the end of 2026.
The ACWA Power-led consortium, comprising Hassan Allam Holding, will work together during the development phase for the completion of site studies and secure the financing of the wind farm.
The project will use wind turbines with blade heights of up to 220 metres, “which helps in achieving the best use of the designated land plots in the most efficient way.”
Mohamed Shaker El-Markabi, Egypt’s Minister of Electricity and Renewable Energy, said the project is aligned with the framework of the government’s strategy to diversify its energy resources and use its natural resources,
“The Ministry of Electricity and Renewable Energy is taking concrete actions to ensure the resilience of our energy strategy, because of the escalating changes that the world is witnessing, which aim to increase the contribution of renewable energy to up to 42% by 2035,” he said.
When completed, the project is will mitigate the impact of 2.4 million tonnes of carbon dioxide emissions annually and provide electricity to 1.08 million households.
This is ACWA Power’s first wind farm project in Egypt, and the third overall, following the 120-megawatts (MW) Benban solar independent projects in the Aswan region and the over 200MW Kom Ombo solar plant.
Meanwhile, Hassan Allam Holding’s investment and development arm Hassan Allam Utilities operates a 50MW solar plant in Benban solar park.