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 ACWA Power Sign Pact with Hassan Allam for Middle East’s Largest Wind Power Project


ACWA Power Sign Pact with Hassan Allam for Middle East’s Largest Wind Power Project

A consortium led by Saudi-listed ACWA Power, the world’s largest private water desalination company and leader in energy transition and first mover into green hydrogen, and including Hassan Allam Utilities, the investment and development arm of Hassan Allam Holding, signed a 25-year land usufruct agreement for a 1.1 GW wind power project in Egypt costing around $1.5 billion.

The agreement was signed between the consortium and the Egyptian New and Renewable Energy Authority (NREA). The project is expected to begin commercial operations by the end of 2026

As per the agreement, the consortium will work during the development phase to complete site studies and secure project finance for the wind farm to be located at the Gulf of Suez and Gebel El Zeit areas.

It will be the largest wind power generation project in the Middle East region and one of the largest onshore wind power projects globally. The project will utilize state-of-the-art wind turbine technology with turbine tip height of around 220 meters, the tallest in the Gulf of Suez area, thereby optimizing land use efficiency.

Once operational, the project will offset 2.4 million tons of carbon dioxide annually and provide power to approximately 1,080,000 households.

The signing ceremony took place in the presence of several dignitaries including Dr Mostafa Madbouly, Prime Minister of Egypt, Dr Mohamed Shaker, Minister of Electricity and Renewable Energy of Egypt, Minister Plenipotentiary Abdulrahman bin Salem Al Dahas, Chairman of NREA Thomas Brostrom, CIO of ACWA Power, Mohamed Hamdouch, VP – Business Development – Africa, and Hassan Amin, ACWA Power’s Country Director– Egypt, Amr Allam, CEO of Hassan Allam Holding, Dalia Wahba, CEO of Hassan Allam Utilities and Omar Hosny, Vice President of Operations at Hassan Allam Utilities.

About ACWA Power

ACWA Power is a Saudi-listed company registered and established in 2004 in Riyadh and is currently present in 12 countries in the Middle East, Africa, Central Asia and Southeast Asia. ACWA Power’s portfolio comprises 77 projects in operation, advanced development, or construction with an investment value of $82.8 billion, and the capacity to generate 53.69 GW of power and manage 7.64 million m3/day of desalinated water per day, delivered on a bulk basis to address the needs of state utilities and industries on long term, off-taker contracts under utility services outsourcing and Public-Private-Partnership models.

About Hassan Allam Utilities

Hassan Allam Utilities is the investment and development arm of Hassan Allam Holding. The company targets green energy projects and meeting the growing demand for infrastructure services in Egypt and the region. The company was established in 2017, and focuses its investments and efforts on sustainable infrastructure, especially in renewable energy, water, logistics, transportation, and social infrastructure.

Global Business Magazine

Global Business Magazine

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