Saudi renewable energy developer ACWA Power will build a 10,000MW (10GW) wind farm in Egypt.
The company signed an MoU with the North African country’s New and Renewable Energy Authority and the Egyptian Electricity Transmission Company on November 1, 2022.
The first phase of the project will have a capacity of 1.1GW and cost up to a 1.1Billion. Construction will begin at the beginning of 2023 and take two years to complete.
ACWA has one of the 10 largest portfolios of renewable energy projects on the African continent and has, recently been signing MoUs to develop future energy solutions in focused African countries.
It particularly has an affinity for Egypt, South Africa, and Morocco.
Mohamed Shaker, the Egyptian Minister of Electricity has, in Riyadh for most of the week of October 31, 2022, been meeting with five other Saudi firms over more than $3billion worth of renewable energy projects. The companies include FAS Energy and Al Fanar. Mr. Shaker is also reportedly meeting with Saudi financing institutions to help drum up financing for the projects.