Riyadh – Africazine: Exciting developments are underway in Egypt’s renewable energy sector as ACWA Power announces its ambitious plan to construct the largest wind farm in the nation with a stunning investment of approximately .30 billion. This monumental project will not only eclipse the company’s existing 1.1 GW Suez Wind Farm but also cement ACWA Power’s position as Africa’s largest renewable energy developer.
The new wind farm, boasting a capacity of 2 GW, is set to become the most significant single-asset Independent Power Producer (IPP) in Egypt. This undertaking represents ACWA Power’s total investment in Egypt, which exceeds .80 billion, contributing a gross capacity of 4.8 GW across the country. This investment reflects ACWA Power’s long-standing commitment to the Egyptian market and underscores its role in the renewable energy landscape.
With a targeted Financial Close for 2026, this wind project is poised to play a vital role in supporting the Egyptian government’s goal of increasing the renewable energy share in its electricity generation mix to an ambitious 42% by 2030. It’s a pivotal step towards a more sustainable future for the country.
Moreover, the project is projected to make a substantial impact on Egypt’s climate objectives by reducing carbon dioxide emissions by over 3.5 million tonnes annually. This aligns perfectly with the country’s commitment to climate change mitigation as outlined in the recent 25-year Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company (EETC). This agreement will not only stabilize energy costs but also enhance the overall energy infrastructure in Egypt.
The Founder and Chairman of ACWA Power, Mohammad Abunayyan, expressed his enthusiasm regarding the partnership with the Egyptian government, stating, “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.” He further emphasized the project’s importance in accelerating Egypt’s ambitious energy transition, marking ACWA Power as a trailblazer in private investments in Africa’s power sector.
Since establishing its presence in Egypt in 2015, ACWA Power has operational facilities, including a 120 MW solar PV project in Benban and a 200 MW solar PV facility in Kom Ombo. This dynamic engagement highlights the potential for further expanding renewable energy initiatives in the region in the coming years.
In addition to these endeavors, the Saudi-listed company recently entered into a share purchase agreement (SPA) with the regional subsidiary of French utility developer ENGIE to acquire assets worth 3 million in two Gulf countries, showcasing ACWA Power’s robust growth strategy.
As we witness substantial advancements in renewable energy across Africa, this project marks a significant milestone for Egypt, highlighting its commitment to providing sustainable energy solutions for its citizens and setting a precedent for other nations in the region.
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