Saudi-based ACWA Power has signed a 25-year power purchase agreement (PPA) with the Egyptian Electricity Transmission Company (EETC) to develop a 2.0 GW wind farm, the largest of its kind in Egypt.
The $2.3 billion project will surpass ACWA Power’s existing 1.1 GW Suez Wind Farm and become the country’s largest single-asset Independent Power Producer (IPP).
With financial close targeted for 2026, the project will play a crucial role in Egypt’s plan to boost renewable energy’s share in its electricity mix to 42% by 2030.
The wind farm is expected to cut carbon dioxide emissions by more than 3.5 million tonnes annually, aligning with the nation’s climate goals.
ACWA Power Chairman Mohammad Abunayyan highlighted the agreement as a testament to the company’s ongoing partnership with Egypt, reinforcing its position as the leading private investor in Africa’s energy transition.
“Our agreement with EETC reinforces the strong and enduring partnership between ACWA Power and the Egyptian government, driving sustainable development with vigor over the past decade,” said Abunayyan. “Additionally, it is a key step in expediting the country’s highly inspiring and ambitious energy transition, with this project we confirm ACWA Power as the leading private investor in power in Africa.”
ACWA Power has been active in Egypt since 2015, operating two solar PV facilities, including a 120 MW project in Benban and a 200 MW facility in Kom Ombo.
