ACWA Power has inked a 25-year power purchase agreement (PPA) with the Egyptian Electricity Transmission Company for a 2 GW wind project in Egypt.
The investment in the project is approximately USD2.3 billion. The project is expected to reach financial close in 2026. Furthermore, this wind project will support the Egyptian government in increasing the share of renewable energy in its electricity generation mix to 42 per cent by 2030. It is also expected to reduce carbon emissions by over 3.5 million tonnes annually.