The project is set to be the largest of its kind in the Middle East and one of the world’s largest for wind energy production.
Egypt’s New and Renewable Energy Authority (NREA signed a $1.5 billion agreement with a consortium led by Saudi Arabia’s ACWA Power for a wind energy project, the government confirmed yesterday (January 10).
It will result in a 1.1-gigawatt wind energy production project in the Gulf of Suez and Gabal El-Zeit regions backed by the alliance, which also includes Hassan Allam Utilities, will work on the completion of the project’s site studies and securing financing for it.
Upon completion of the project, it will contribute to reducing 2.4 million tons of carbon dioxide emissions annually, as well as saving about 840,000 tons of fuel annually and creating about 6,000 direct and indirect job opportunities, in addition to providing electricity to about 1 million housing units.
The project is set to be the largest of its kind in the Middle East and one of the world’s largest for wind energy production.
