{"id":576906,"date":"2022-11-02T04:00:01","date_gmt":"2022-11-02T04:00:01","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/acwa-unit-looks-to-build-worlds-second-largest-wind-farm-in-egypt\/"},"modified":"2022-11-02T04:00:01","modified_gmt":"2022-11-02T04:00:01","slug":"acwa-unit-looks-to-build-worlds-second-largest-wind-farm-in-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/acwa-unit-looks-to-build-worlds-second-largest-wind-farm-in-egypt\/","title":{"rendered":"ACWA unit looks to build world\u2019s second-largest wind farm in Egypt"},"content":{"rendered":"

<\/a> ACWA Power could build one of the world\u2019s largest wind farms in Egypt:<\/strong> Saudi renewable energy developer ACWA Power will build a 10-GW wind farm in Egypt after signing an MoU with Egypt\u2019s New and Renewable Energy Authority (NREA) and the Egyptian Electricity Transmission Company (EETC) yesterday, the Saudi Energy Ministry said in a statement<\/a> yesterday. The MoU was signed during a meeting in Riyadh between Electricity Minister Mohamed Shaker and Saudi Energy Minister Prince Abdulaziz bin Salman.<\/p>\n

This would be one of the largest wind farms in the world:<\/strong> The ACWA plant would be the second-largest wind farm in the world after the Gansu project in China which has a planned capacity of 20 GW. For comparison, India\u2019s largest wind farm \u2060\u2014 Jaisalmer \u2060\u2014 has a capacity of 1.6 GW while the 1.55 GW Alta Wind Energy Center in California is the biggest in the US. Currently, Egypt\u2019s largest wind farm is the 545-MW facility in Zafarana<\/a>.<\/p>\n

What\u2019s next:<\/strong> Egypt will provide land to conduct feasibility studies for the project ahead of the signing of final contracts, the statement said.<\/p>\n

Two days, two wind farms:<\/strong> The news out of Saudi comes a day after Orascom Construction announced it had broken ground<\/a> on the 500-MW Ras Ghareb wind farm it\u2019s working on alongside Engie and Toyota Tsusho.<\/p>\n

This isn\u2019t the only large-scale wind project ACWA is looking at in Egypt:<\/strong> ACWA and Hassan Allam signed in June<\/a> a 25-year power purchase agreement with the EETC to develop a 1.1 GW wind farm in the Gulf of Suez. The USD 1.5 bn project is expected to reach financial close by 4Q 2024 and begin commercial operations by the end of 2026.<\/p>\n

Egypt has set itself an ambitious renewable energy target:<\/strong> Egypt is aiming to produce 42%<\/a><\/a>of its energy<\/a> from renewable sources by 2030, a target announced during last year\u2019s COP26 summit. This is five years earlier than its previous target.<\/p>\n

ALSO FROM SHAKER\u2019S VISIT- <\/strong>The ministers discussed progress over the USD 1.8 bn Egypt-Saudi electricity interconnection project<\/a>, and cooperation in renewable energy and hydrogen. Work is underway to prepare a MoU between the two countries on the fields of electricity, renewable energy and clean hydrogen, according to the statement.<\/p>\n

MORE ENERGY NEWS- <\/strong><\/p>\n

Suez Cement is investing<\/strong> USD 25 mn in the <\/strong>waste heat recovery facility<\/a><\/strong> at its <\/strong>Helwan plant<\/strong>, Al Mal<\/a> reports. The plant will use excess heat from production lines to generate 20 MW of power, replacing 30% of the plant\u2019s electricity needs.<\/p>\n

Intro Power is pouring more into our renewables sector:<\/strong> Intro Group subsidiary Intro Power and Utilities\u2019 renewables investments will reach USD 80 mn by the end of the year CEO Hani Helali reportedly told Al Mal<\/a>. The company is currently in negotiations with three banks to secure a USD 12 mn loan to cover some of its investment costs, Helali is quoted as saying.<\/p>\n","protected":false},"excerpt":{"rendered":"

ACWA Power could build one of the world\u2019s largest wind farms in Egypt: Saudi renewable energy developer ACWA Power will build a 10-GW wind farm in Egypt after signing an MoU with Egypt\u2019s New and Renewable Energy Authority (NREA) and the Egyptian Electricity Transmission Company (EETC) yesterday, the Saudi Energy Ministry said in a statement […]<\/p>\n","protected":false},"author":1,"featured_media":576907,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7207],"tags":[1042,93,72,151,219],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-576906","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-acwa-power","tag-energy","tag-enterpriseam","tag-renewables","tag-saudi-arabia","wpautop","entry"],"acf":{"mongo_id":"866d0721-9205-4641-bcd0-b61100d2abec","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/11\/52.jpg","photo_position":"above","related_issue":[576902],"teaser":"","voice_url":""},"yoast_head":"\nACWA unit looks to build world\u2019s second-largest wind farm in Egypt - 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It\u2019s almost half of the country\u2019s current installed capacity, which at the end\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/145.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":590362,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/18\/acwa-power-receives-land-in-sohag-for-10-gw-mega-wind-farm\/","url_meta":{"origin":576906,"position":1},"title":"ACWA Power receives land in Sohag for 10-GW mega wind farm","author":"enterpriseam admin","date":"18 July 2023","format":false,"excerpt":"Sohag could be home to 25 GW of wind generation capacity if all three planned wind farms get built; Egypt looks to source 42% of power from renewables by 2030","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/706.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577274,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/16\/the-sfe-could-acquire-10-of-acwa-hassan-allam-wind-farm\/","url_meta":{"origin":576906,"position":2},"title":"The SFE could acquire 10% of ACWA, Hassan Allam wind farm","author":"enterpriseam admin","date":"16 November 2022","format":false,"excerpt":"SFE could invest in 1.1 GW wind farm being developed by ACWA, Hassan Allam: The Sovereign Fund of Egypt (SFE) could acquire a minority stake in ACWA Power\u2019s planned 1.1-GW wind farm in the Gulf of Suez. 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