Saudi Arabia's ACWA Power to establish 1.1GW wind farm in Egypt's Suez Gulf

CAIRO – 10 January 2024: Prime Minister Mostafa Madbouli attended Wednesday the signing of a leasing agreement between the New and Renewable Energy Authority and a coalition led by Saudi Arabia's ACWA Power to establish a wind farm with a capacity of 1.1 gigawatts.

The value of the project, which will lie in the Suez Gulf and Gabal El Zeit, is $1.5 billion. It will contribute to reducing carbon emissions by 2.4 million tons and fuel consumption by 840,000 tons in addition to creating around 6,000 direct and indirect jobs and providing electricity to one million residential units.

The turbines that will be installed in the farm will be the highest in the Suez Gulf as the height of each will amount to 220 meters. As per the agreement signed, the coalition will carry out the site feasibility study and secure financing to the project.