Energy Central Professional

 

ACWA Power-led consortium to build $1.5 bn onshore wind project in Egypt.


NS Energy  

 

    An ACWA Power-headed group has inked a project deal to construct a 1.1 GW onshore wind farm in Egypt, worth $1.5 bn. The said contract was signed during Saudi Arabia Crown Prince Mohammed Bin Salman's state visit to Egypt. The syndicate also includes Hassan Allam, an Egyptian construction engineering firm. It will work together during the development phase to perform the site investigations and secure the funding for the project. The planned facility will be positioned in the Gabal el Zeit and the Gulf of Suez area. It would achieve financial close by 3Q 2024. Once commercially operational by end-2026, it will satisfy the power needs of more than 1 M homes. Also, it will prevent the release of 2.4 M tonnes/y of carbon dioxide. Its wind turbines will have a tip height of up to 220 m, which is claimed to be the highest in Gulf of Suez. This will aid in meeting the optimum use of the selected land plots in the most effective approach. The project is also backed by a 25-year power purchase agreement (PPA) inked by ACWA Power's Suez Wind Energy Project Company and the Egyptian Electricity Transmission Company (EETC). It will be the third for ACWA Power in Egypt, after the 120 MW Ben Ban solar farm in the Aswan region and the 200 MW Kom Ombo solar unit. Original Source: NS Energy, http://www.nsenergybusiness.com.

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