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The New and Renewable Energy Authority (NREA) partnered with an alliance led by global leader ACWA Power, joined by Hassan Allam Utilities, to bring this ambitious project to life
A consortium led by Saudi Arabia’s ACWA Power signed recently an agreement for a 1.1-gigawatt wind energy project with USD 1.5bn of investment. The project will take root in the Suez Gulf and Gabal El Zeit regions. It will harness the wind’s potent energy to become the Middle East’s largest onshore wind farm and a global frontrunner.
The New and Renewable Energy Authority (NREA) partnered with an alliance led by global leader ACWA Power, joined by Hassan Allam Utilities, to bring this ambitious project to life.
The signing ceremony was attended by Egypt’s Prime Minister Mostafa Madboyly, Electricity and Renewable Energy Minister Mohamed Shaker, Saudi Arabia’s Deputy Ambassador Abdurrahman bin Salem Al-Dahas, and key executives from both parties. Mohamed Al-Khayyat, Chairperson of NREA, inked the agreement alongside Mohamed Hamdouch, ACWA Power’s Vice President for business development. Thomas Brostrom, ACWA Power’s Chief Investment Officer, and Hassan Amin, Director of ACWA Power Egypt, were also present, along with Dalia Wahba, CEO of Hassan Allam Utilities.
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Beyond its sheer scale, the project boasts a multitude of benefits. Upon completion, include reducing carbon dioxide emissions by 2.4 million tons annually, conserving an estimated 840,000 tonnes of fuel yearly, and creating roughly 6,000 direct and indirect jobs.
