Acwa Power, a Saudi developer of power generation and desalinated water production facilities, and the New and Renewable Energy Authority (NREA) have signed a memorandum of understanding (MoU) to allot land for the construction of a 10 GW wind project in Egypt. The agreement was signed at the headquarters of the Council of Ministers in the new city of El Alamein, Egypt. The large-scale wind project’s development was made possible by its signing, which is seen as a significant turning point.
The agreement follows the MoU signed between ACWA Power, the Egyptian Electricity Transmission Company and the NREA in November 2022. Land covering 3,000km² west of Sohag City has been allocated for the project, which will generate 50,000 gigawatt-hours of clean energy – enough to power 11 million Egyptian homes while offsetting 25.5 million tonnes of carbon emissions annually. The 10 GW wind farm will save $6.5 billion in annual natural gas costs for Egypt while creating 120,000 jobs during its construction phase and an estimated 45,000–75,000 indirect jobs in the region. The operations and maintenance phase will also create up to 2,500 permanent jobs.
In June 2023, ACWA Power announced a significant milestone in its pursuit of renewable energy excellence. The company has signed a memorandum of understanding (MoU) with Huawei Digital Power, a leading global provider of digital power products and solutions, to establish a joint-innovation program, to drive the growth of local industries and expedite decarbonization targets of the Kingdom of Saudi Arabia.