Saudi ACWA Power to pump $10bln into Egypt’s green sector

Saudia Arabia’s ACWA Power company plans to invest $10 billion in Egypt by 2026 to develop solar and wind power plants, and water desalination projects, according to its CEO Marco Arcelli told a local newspaper on Sunday.

The world’s largest private water desalination company, has already invested $2.5 billion in Egypt and has five projects in the country, all in the renewable sector, Arcelli further added.

ACWA Power is planning to grow its footprint in renewable energy, especially in solar and wind power, in existing markets such as Saudi Arabia, Morocco, Egypt, China, and CIS/ Central Asia.