Saudi ACWA Power signs MoU to build 10 GW wind farm in Egypt

Saudi ACWA Power Company has signed a preliminary agreement to build a 10-gigawatt (GW) wind energy project in Egypt, the Saudi Energy Ministry announced in a statement on Tuesday.

The Memorandum of Understanding has been signed with Egypt’s New and Renewable Energy Authority and Egyptian Electricity Transmission Co.

Egyptian Minister of Electricity Mohamed Shaker met Saudi Energy Minister Prince Abdulaziz bin Salman on an official visit to discuss cooperation between the two countries in the fields of electricity and renewable energy.

The value of the project was not disclosed and the final agreements will be dependent on feasibility studies, as well as the availability of land, the statement read.

The agreement comes days before the UN climate summit COP27, which will take place in Sharm El Sheikh on November 6-18.

Egypt is aiming to increase its renewable energy sources to 42 percent by 2035, from about 11 percent in 2019.