ACWA Power, a developer and operator of power generation and water desalination plants, signed an agreement with Egypt’s New and Renewable Energy Authority (NREA) to build a 10 GW wind power plant on 3,000 sq km of land near Sohag.
Once completed, the project is expected to generate nearly 50,000 GWh and save 25.5 million tons of carbon emissions annually. In terms of economic value, the wind power plant will save Egypt $6.5 billion on natural gas costs every year and provide up to 120,000 jobs.
“Egypt has adopted an ambitious program to advance the electricity sector in various fields, which includes maximizing the utilization of new and renewable energy resources,” said the Minister of Electricity and Renewable Energy Dr. Mohamed Shaker Al Marqabi. “This focus also aligns with Egypt’s Vision 2030 and the National Climate Strategy 2050 with a view to mitigating the impact of climate change challenges and achieving sustainable economic growth.”
Egyptian officials hope this project will encourage other future investments that promote independence from fossil fuels and increase Egypt’s renewable energy capacity in the energy mix up to 42% by 2035.
“We are determined to harness the vast potential of wind power, creating jobs, reducing emissions, and ensuring a green and brighter future for Egypt,” said ACWA Power CEO Marco Arcelli.
