BAKU, Azerbaijan, February 21. 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, Trend reports.
The project, with an investment of approximately $2.3 billion, will become Egypt’s largest wind farm, surpassing ACWA Power’s existing 1.1 GW Suez Wind Farm.
Once completed, the 2 GW wind farm will be the largest single-asset Independent Power Producer (IPP) in Egypt. ACWA Power has already committed a total of $8.8 billion for renewable energy projects in the country, with a gross capacity of 4.8 GW. The wind project, targeted for Financial Close in 2026, is expected to contribute to Egypt’s goal of increasing its renewable energy share in electricity generation to 42% by 2030.
The project is also expected to reduce carbon dioxide emissions by more than 3.5 million tons annually, supporting Egypt’s climate change mitigation efforts. ACWA Power has been active in Egypt since 2015 and operates two other renewable energy projects in the country: a 120 MW solar PV project in Benban and a 200 MW solar PV facility in Kom Ombo.