ACWA Power signs PPA with EETC
Saudi Arabia’s ACWA Power has signed a PPA with the Egyptian Electricity Transmission Company for a 2 GW wind project in South Hurghada, Egypt.
Image for illustration purposes.
Egypt: Saudi Arabia’s ACWA Power has signed a power purchase agreement (PPA) with the Egyptian Electricity Transmission Company (EETC) for a 2 GW wind project in South Hurghada, Egypt. The project, worth SAR 8.6 billion ($2.29 billion), is the largest in Egypt, according to the Minister of Energy Prince Abdulaziz bin Salman.
Five renewable projects have been launched by Saudi companies in Egypt, with a total capacity of 1.696 GW and an investment of nearly SAR 6.2 billion. ACWA Power, Alfanar, FAS, and MOWAH are involved in these. Also, the SAR 6.7 billion Saudi-Egypt Electricity Interconnection Project will be the largest project of its kind in the region, enabling the exchange of 3 GW upon its completion.
Source: Zawya
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