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ACWA Power, the world’s largest private water desalination company, a leader in energy transition, and a pioneer in green hydrogen, has signed a 25-year Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company (EETC) for a landmark 2 GW wind project in Egypt.
With an estimated investment of USD 2.3 billion, the project will be Egypt’s largest wind farm, surpassing ACWA Power’s existing 1.1 GW Suez Wind Farm. It will also be the country’s largest single-asset Independent Power Producer (IPP), further strengthening ACWA Power’s position as the leading renewable energy developer in Egypt and Africa. The company now holds a total investment of USD 8.8 billion and a gross capacity of 4.8 GW in contracted projects.
Expected to reach Financial Close in 2026, the 2 GW wind project will support the Egyptian government’s goal of increasing renewable energy’s share in its electricity generation mix to 42% by 2030. Additionally, the project will help cut carbon dioxide emissions by over 3.5 million tonnes annually, significantly contributing to Egypt’s climate change mitigation efforts.
Mohammad Abunayyan, Founder and Chairman of the Board of Directors of ACWA Power, highlighted that the agreement with EETC reinforces the company’s long-standing partnership with the Egyptian government, which has been driving sustainable development for over a decade. He noted that this milestone accelerates Egypt’s ambitious energy transition while reaffirming ACWA Power’s role as the leading private investor in Africa’s power sector.
Since entering Egypt in 2015, ACWA Power has developed two operational projects in the country—a 120 MW solar PV plant in Benban and a 200 MW solar PV facility in Kom Ombo.
