Another mega wind farm incoming: Saudi renewables giant Acwa Power is setting up a 2 GW wind farm in South Hurghada with investments of SAR 8.6 bn (c. USD 2.3 bn), Saudi Energy Minister Abdulaziz bin Salman said during the first day of the Egypt Energy Show. The company inked a power purchase agreement with the Egyptian Electricity Transmission Company for the project, he added.

Acwa has another big wind farm in the works: Acwa Power and energy and infrastructure leader Hassan Allam Utilities are setting up a USD 1.2 bn, 1.1 GWwindfarm in the Gulf of Suez. The project reached financial close earlier this year and is expected to kick off commercial operations in 2Q 2027.

PLUS- Egypt and Saudi Arabia signed an executive plan for cooperation in energy efficiency, which should see the two sides set up a program for energy efficiency, look into setting up a joint entity to implement energy efficiency projects, and exchange expertise in the field, according to statements from the Oil Ministry and the Saudi Energy Ministry.

ALSO FROM THE ENERGY SHOW- El Sisi and Apache head talk Egypt expansion: President Abdel Fattah El Sisi sat down with Apache CEO John Chistmann to discuss the company’s expansion in Egypt, with El Sisi emphasizing the need to strengthen Apache’s investments to “maximize the country’s resources.”

REMEMBER- Apache, Egypt’s largest oil producer, reportedly plans to ramp up its daily natural gas production in Egypt to 500 mn cubic feet per day from a current 450 mn cubic feet by the end of fiscal year 2024-25. It also recently signed up for four additional Western Desert blocks, representing a 30% increase to the company’s overall concessions in Egypt.

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