Acwa Power, a leading developer and operator of power generation and water desalination plants worldwide, said it has signed an agreement with the Egypt's New and Renewable Energy Authority (NREA) to set up a 10 gigawatt (GW) wind project in the country.

 

The wind power plant is expected to provide the Egyptian economy with $6.5 billion in savings in annual natural gas costs and secure up to 120,000 job opportunities, said the statement from Acwa Power.

 

Under the deal, NREA will allocate approximately 3,000 sq km of land west of Sohag, an urban centre, 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 tonnes of carbon emissions each year.

 

A leading player in the region's utilitites sector, Acwa Power has had a major presence in Egypt since 2015.

 

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 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% 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 today's 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.-TradeArabia News Service