Saudi Arabia's ACWA Power to develop 1.1 GW wind project in Egypt

Saudi Arabia's ACWA Power signed an agreement to develop a 1.1 GW wind project in Egypt June 21, as the Arab world's largest economy accelerates plans to add 42% of clean power by 2035.

The consortium led by ACWA Power will work with local company Hassan Allam Holding to complete site studies and secure the financing for the project, which is located in the Gulf of Suez and Gabal el-Zeit area in Egypt. The project is set to be one of the largest wind power schemes in the Middle East and will comprise wind turbines with blade heights of up to 220 meters.

The project will reach financial close by the third quarter of 2024 and will begin operations by end-2026.

Egypt, which has significant gas resources following the discovery of the offshore Zohr gas field, also plans to accelerate deployment of its renewable resources.

The country plans to raise the share of renewables to 20% of current share by 2022. Egypt plans to grow its wind segment to up to 14% of overall clean power by 2035. The country will tap solar photovoltaic, concentrated solar and hydroelectric power for its renewables program.