ACWA Power Signs 25-Year PPA for Egypt’s Largest 2 GW Wind Project

ACWA Power, the world leader in energy transition and water desalination, has entered into a 25-year Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company (EETC) for a historic 2 GW wind power project in Egypt. The initiative, with an estimated investment of $ 2.3 billion, will be the largest wind farm in the country, surpassing ACWA Power’s 1.1 GW Suez Wind Farm.

The project will also be Egypt’s largest single-asset Independent Power Producer (IPP), reinforcing ACWA Power’s role as the leading renewable energy developer in the country. With this latest development, the company’s total investment in Egypt now stands at $8.8 billion, contributing to a gross renewable energy capacity of 4.8 GW.

Enabling Egypt's Energy Transition Objectives

The 2 GW wind project will reach financial close by 2026 and will play a crucial role in Egypt’s goal of increasing renewable energy to 42% of its electricity mix by 2030. By replacing fossil fuel-based electricity, the wind farm will reduce carbon dioxide emissions by more than 3.5 million tons annually, significantly advancing Egypt’s climate change mitigation efforts.

ACWA Power Secures $701.9M Financing for 1.1GW Wind Power Project

Enhancing Long-Term Partnerships

Mohammad Abunayyan, Founder and Chairman of ACWA Power, said,"Our agreement with EETC reinforces the strong and enduring partnership between ACWA Power and the Egyptian government, driving sustainable development with vigor over the past decade."

He added,"Additionally, it is a key step in expediting the country’s highly inspiring and ambitious energy transition, with this project we confirm ACWA Power as the leading private investor in power in Africa."

By expanding its renewable energy footprint in Africa, ACWA Power continues to drive large-scale clean energy projects that support both economic growth and sustainability.