In the presence of H.E. Dr. Mostafa Madbouly, Prime Minister of Egypt, H.E. Dr. Mohamed Shaker, Minister of Electricity and Renewable Energy of Egypt, Hassan Allam Utilities, alongside ACWA Power signed a 25-year land usufruct agreement with Egypt’s New and Renewable Energy Authority for a 1.1 GW Wind Energy project in Egypt, representing an investment of up to USD 1.5 billion.
Attending the signing were His Excellency Minister Plenipotentiary Abdulrahman bin Salem Al Dahas, Deputy Ambassador of the Kingdom of Saudi Arabia in Cairo, Dr. Amjad Saeed, Legal Advisor to the Minister of Electricity and Renewable Energy, Dr. Mohammed Mostafa El-Khayat, Chairman of NREA, Amr Allam, Group Co-CEO of Hassan Allam Holding, Dalia Wahba, CEO of Hassan Allam Utilities and Omar Hosny, Vice President of Operations at Hassan Allam Utilities, Mr. Thomas Brostrom, CIO of ACWA Power, Mr. Mohamed Hamdouch, VP – Business Development – Africa at ACWA Power, and Eng. Hassan Amin, ACWA Power’s Country Director – Egypt.
This project is set to be the largest of its kind for wind energy production in the Middle East and one of the largest onshore wind energy projects globally. The consortium will work during the project’s development phase to complete site studies and secure project financing in the Gulf of Suez and Jabal Al-Zeit regions.
Upon completion, the project will reduce 2.4 million tons of carbon dioxide emissions annually and provide electricity to approximately 1,080,000 households.
