ACWA Power and Hassan Allam Holding to Invest USD1.5 Billion in Wind Power Project in Egypt

Deal In Brief

ACWA Power, a power generation company, and Hassan Allam Holding, have agreed to invest USD1,100 million in the construction and development of wind power project located in Egypt. The total installed capacity of the project is 1,100 MW. The investment per MW will be USD1.3 million per MW

The signing ceremony of the project agreement took place at the headquarters of the Egyptian General Authority for Investment and Free Zones, Cairo

When complete, the project will mitigate the impact of 2.4 million tonnes of carbon dioxide emissions per year and provide electricity to 1,080,000 households. The project will be designed to use state-of-art wind turbines with blade heights of up to 220 metres, which helps in achieving the best use of the designated land plots in the most efficient way

The wind project is forecasted to reach financial close by the third quarter of 2024. The plant will be commercially operational by the end of 2026.

Deal Value (US$ Million)	1500
Deal Type	Acquisition
Sub-Category	Asset Purchase
Deal Status	Announced: 2022-06-21

Deal Participants

Deal Rationale

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