ACWA Power has signed a memorandum of understanding Egypt’s New and Renewable Energy Authority (NREA) to allocate land for a 10GW wind project.
The MoU allocates approximately 3000sq km of land west of Sohag, an urban centre, for the project.
The wind project is expected to generate around 50,000 GWh of clean energy annually, providing electricity to around 11m households and mitigating the impact of 25.5m tonnes of carbon emissions each year.
The 10GW wind power plant is expected to provide the Egyptian economy with US$6.5bn savings in annual natural gas costs, in addition to creating up to 120,000 job opportunities; in direct employment in the construction phase is estimated at 45,000 people, and around 75,000 people indirectly, in addition to adding about 2500 jobs for the operation and maintenance phase after the completion.
Marco Arcelli, CEO of ACWA Power, said: “Today’s signing furthers our commitment to driving sustainable development and powering Egypt’s future with clean, reliable, and renewable energy. We are determined to harness the vast potential of wind power, creating jobs, reducing emissions, and ensuring a greener and brighter future for Egypt, in alignment with ACWA Power’s vision for a sustainable planet.”