Page 13 - AfrElec Week 44 2022

AfrElec RENEWABLES AfrElec

ACWA Power signs

MoU with Egypt to set

up 10-GW wind farm

EGYPT SAUDI Arabia’s renewable energy producer feasibility studies ahead of the contract signing
ACWA Power has signed a memorandum of stage.
understanding (MoU) with Egypt’s New and In June, ACWA Power partnered with Has-
Renewable Energy Authority (NREA) and the san Allam in signing a 25-year power purchase
Egyptian Electricity Transmission Co. (EETC) agreement (PPA) with EETC to develop a 1.1-
to build a massive 10-GW onshore wind farm GW wind farm in the Gulf of Suez. The $1.5bn
in Egypt, Saudi Energy Ministry reported in a project is expected to reach financial close by the
statement posted on its website. fourth quarter of 2024 and begin commercial
When completed, it is thought the project operations by the end of 2026.
will become the second-largest wind farm pro- Egypt is aiming to produce 42% of its energy
ject in the world. The Egyptian side is coming on from renewable sources by 2030.™
board by providing state-owned land to conduct

Kenya targets 100%

renewable energy by 2030

KENYA STAKEHOLDERS in Kenya’s electricity sector Climate Change Conference (COP27) in Egypt
have announced plans to achieve 100% renewa- in November.
ble energy usage by 2030, the Standard reported. “In line with the current administration’s
Under the name the Electricity Sector Asso- agenda on introducing reliability and afforda-
ciation of Kenya (Esak), the group aims to join bility of power, we commit to encouraging the
forces to counter the effects of global climate sustainable development of the Kenyan electric-
change resulting from the use of fossil fuels. ity sector through collaboration, advocacy and
Kenya’s renewable energy sources currently data-driven solutions, as a result maintaining
account for 70% of the country’s installed electri- investor confidence through a predictable and
cal capacity. They include hydropower, geother- stable business environment,’’ said Esak Chair-
mal, bioenergy, wind and solar energy. person, George Aluru.
Kenya’s energy mix comprises bioenergy ‘‘This is even as we build the value chain and
(64.6% of total primary energy supply), oil prod- grow demand by attracting global industrial
ucts (16.9 %), renewable energy sources (15.2%) investors looking to accelerate their sustainabil-
and coal and hydropower (1.9 %), according to ity agenda by leveraging Kenya’s existing 90 per
the country’ energy regulator. cent renewable electricity grid. This will position
The announcement comes ahead of Ken- Kenya as a leader in the green industrial revolu-
ya’s participation in the United Nations tion,” he said.™

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