Page 14 - AfrElec Week 25 2022

AfrElec RENEWABLES AfrElec

ACWA Power signs 1.1-GW

wind project deal in Egypt

EGYPT ACWA Power aims to build a 1.1-GW, $1.5bn the contribution of renewable energy to up to
wind project in Egypt together with local devel- 42% by 2035,” said El-Markabi.
oper Hassan Allam Holding. He said that the 1.1-GW was of vital impor-
The two agreed to complete site studies and tance to Egypt as it prepares to host the COP27
secure the financing for the facility, which is conference in November 2022.
located in the Gulf of Suez and Gabal el Zeit area. He also highlighted how the project was
The project will be the largest single con- being driven by Egypt’s private sector, as well as
tracted wind farm in the Middle East and one attracting foreign investment.
of the largest onshore wind farms in the world, “We are honoured to contribute to the
ACWA Power said in a statement. strengthening ties of Saudi Arabia, our home,
The project will mitigate the impact of and Egypt via this milestone wind project, and
2.4mn tonnes per year (tpy) of carbon dioxide extend our sincerest gratitude to the leaders of
emissions and provide electricity to 1,080,000 both countries in entrusting their faith in our
households. abilities to realise their renewable energy man-
The 1.1-GW wind project is forecast to reach dates,” said ACWA’s Abunayyan.
financial close by the third quarter of 2024. The “The project marks an important milestone
plant will be commercially operational by the in Egypt’s plans to decarbonise the energy sector
end of 2026. and meet its targets under the country’s Intended
The project will be designed to use state-of- Nationally Determined Contributions (INDCs).
art wind turbines with blade heights of up to 220 We are proud to be part of this flagship project
metres, which helps in achieving the best use of and look forward to a fruitful partnership,” said
the designated land plots in the most efficient Dalia Wahba, deputy CEO and chief investment
way. officer of Hassan Allam Utilities.
The signing ceremony of the agreement took Hassan Allam Utilities, the investment and
place at the headquarters of the Egyptian Gen- development arm for Hassan Allam Holding,
eral Authority for Investment and Free Zones, currently operates a 50-MW solar plant in Ben-
Cairo, attended by Mohamed Shaker El-Mark- ban solar park, cementing its position as one of
abi, Egypt’s Minister of Electricity and Renew- Egypt’s leading green energy producers.
able Energy, and Mohammad Abunayyan, This is ACWA Power’s third project – and first
chairman of ACWA Power. wind farm – in Egypt, after the 120-MW Benban
“This milestone wind project falls within the solar independent power projects in the Aswan
framework of the Egyptian government’s strat- region and the 200-MW Kom Ombo solar plant.
egy to diversify its energy sources and leverage The 1.1-GW project is one of the largest
the country’s rich natural resources, especially onshore wind farms in the world and the larg-
in renewable energy. The Ministry of Electric- est in the Middle East, while it is ACWA Power’s
ity and Renewable Energy is taking concrete third in Egypt
actions to ensure the resilience of our energy The agreement was signed during the state
strategy, because of the escalating changes that visit to Egypt of HRH Mohammed Bin Salman
the world is witnessing, which aim to increase (MbS), Crown Prince of Saudi Arabia™

P14 www. NEWSBASE .com Week 25 23•June•2022