Saudi utility giant ACWA Power has signed a power purchase agreement with the Egyptian Electricity Transmission Company (EETC) to develop a 2-gigawatt (GW) wind energy project in Hurghada.

Minister of Investment and Foreign Trade Hassan El-Khatib met with a delegation from Saudi Arabia’s ACWA Power Group, led by Chairman Mohammad Abunayyan, to explore investment opportunities and projects in Egypt’s renewable energy sector and review the company’s future plans in the country.

Saudi Arabia’s ACWA Power has finalized financing agreements worth $702 million for a 1,100-megawatt wind farm in Egypt.

The Saudi Arabia-based ACWA Power is set to complete raising $1.5 billion in funds next November for a wind energy project in Egypt’s Gulf of Suez.

ACWA Power is set to finalize the first phase of the company’s green hydrogen project in the Suez Canal Economic Zone (SCZone) in the fourth quarter (Q4) of 2028.

Prime Minister Mostafa Madbouly held a meeting to discuss the ongoing and future projects of the Saudi Arabian company ACWA Power in Egypt’s energy and water desalination sectors.

The Egyptian Ministry of Electricity has probed with the Saudi ACWA Power ways to foster cooperation in the fields of new and renewable energy and green hydrogen.

ACWA Power has received a the project commercial operation certificate for the 200-megawatt Kom Ombo solar power plant in Aswan.

The Saudi ACWA Power is planning to operate its 200-megawaat (MW) Kom Ombo solar power plant in Egypt within the coming weeks.

Egypt’s New and Renewable Energy Authority (NREA) and a consortium led by ACWA Power have signed a usufruct agreement for a 1.1-gigawatt wind energy production project in the Gulf of Suez and Gabal El-Zeit regions, with $1.5 billion in investments.

Egypt has signed a framework agreement with Saudi ACWA Power to implement a green hydrogen project in the Suez Canal Economic Zone (SCZONE).

Saudi ACWA Power is planning to start the construction works of Egypt’s largest wind farm in early 2024.

The Saudi Arabia-based ACWA Power is targeting to expand its water desalination projects in several countries, including Egypt.

Acwa Power announced a financial close for its 200-megawaat (MW) Kom Ombo solar power plant in Aswan, with a funding of $123 million and total investments of $182 million.

The Egyptian New and Renewable Energy Authority (NREA) signed a land allocation agreement with the leading Saudi operator of power plants and water desalinations ACWA Power for a 10-gigawatt (GW) wind farm in Sohag, Egypt.

ACWA Power secured the loan from several regional and international financial institutions including up to $36 million from the European Bank for Reconstruction and Development (EBRD), $14.6 million from OPEC Fund for International Development and $14.4 million from the African Development Bank (AfDB).