A consortium led by Saudi Arabia’s ACWA Power signed on Wednesday a monumental usufruct agreement for a 1.1-gigawatt wind energy project with $1.5bn of investment, according to a statement by the Egyptian cabinet. The New and Renewable Energy Authority (NREA) partnered with an alliance led by global leader ACWA Power, joined by Hassan Allam Utilities, to bring this ambitious project to life. Mohamed Al-Khayyat, Chairperson of NREA, inked the agreement alongside Mohamed Hamdouch, ACWA Power’s Vice President for business development. Thomas Brostrom, ACWA Power’s Chief Investment Officer, and Hassan Amin, Director of ACWA Power Egypt, were also present, along with Dalia Wahba, CEO of Hassan Allam Utilities. Furthermore, ACWA Power’s Chief Investment Officer, Thomas Brostrom, revealed the project’s cutting-edge design.

Source: Daily News Egypt January 10, 2024 17:47 UTC