ACWA Power has signed a 25-year Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company (EETC) for a 2 GW wind project in Egypt, marking an investment of approximately USD 2.3 billion. This project, set to become the largest wind farm in the country, will surpass ACWA Power's existing 1.1 GW Suez Wind Farm.
The project will be Egypt's largest single-asset Independent Power Producer (IPP), strengthening ACWA Power's leadership in Egypt’s renewable energy sector with a total investment of USD 8.8 billion and a gross capacity of 4.8 GW.
It will help Egypt achieve its goal of sourcing 42% of electricity from renewables by 2030, while reducing CO2 emissions by over 3.5 million tonnes annually.
Expected to reach Financial Close in 2026, this initiative marks a significant step in Egypt’s energy transition and underscores ACWA Power’s role as the leading private investor in Africa’s power sector. ACWA Power has been active in Egypt since 2015, with existing operations including solar PV projects in Benban and Kom Ombo.
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