Sovereign Fund of Egypt joins ACWA Power as co-investor of 1.1 GW Wind Energy project in the Suez Gulf Area
ACWA Power, a leading Saudi developer, investor, and operator of power generation, water desalination and green hydrogen plants worldwide, today signed a memorandum of Understanding (MoU) with The Sovereign Fund of Egypt (TSFE) to explore a joint investment in the 1.1 GW Wind Energy project, located in the Gulf of Suez in Egypt. The MoU […]
ACWA Power set to explore bringing on Oman Investment Authority as co-investor for 1.1GW Suez Wind Energy project
The signing was attended by His Royal Highness Prince Abdulaziz bin Salman Al Saud, Minister of Energy of Saudi Arabia OIA will own up to 10% stake in the wind farm project Egypt’s Hassan Allam Holdings is a 25% co-investor ACWA Power will hold the remaining share in the facility US$1.5 billion project expected to […]
ACWA Power, Hassan Allam consortium signs deal for 1.1GW wind project in Egypt worth US$1.5 bn
The 1.1 GW project is one of the largest onshore wind farms in the world and the largest in the Middle East. Agreement signed during HRH Mohammed Bin Salman, Crown Prince of Saudi Arabia’s state visit to Egypt. Project marks ACWA Power’s expansion in the country to three projects. ACWA Power, a leading Saudi developer, investor […]
ACWA Power in advanced talks with SFE over 250MW wind farm in Gulf of Suez
ACWA Power and the sovereign wealth fund eye a new Suez wind farm: Saudi renewables company ACWA Power is in advanced talks with the Sovereign Fund of Egypt (SFE) to build a c. 250 MW wind farm in the Gulf of Suez, Al Borsa reports, citing unnamed sources who claimed a contract could be signed within weeks. […]
Egypt’s Kom Ombo solar plant receives $114 million financing package
Egypt’s largest private solar plant, Kom Ombo, receives US$ 114 million financing package. EBRD, OPEC Fund, AFDB, GCF and the Arab Bank to finance the 200 MW solar plant in Egypt Kom Ombo solar plant to be developed, constructed and operated by ACWA Power Financing package to increase renewable energy in Egypt The European Bank […]
ACWA Power contributes EGP 5.5m to support Egypt in combating COVID-19
ACWA Power contributes EGP 5.5 million to support Tahya Misr Fund’s efforts in combating COVID-19. The contribution will be directed towards ventilators and RT-PCR detection kits. ACWA Power – a leading energy and water desalination provider – has donated EGP 5.5 million to Tahya Misr Fund with an aim to support the Egyptian government’s efforts […]
ACWA signs MoU to develop Egypt’s sustainable water desalination sector
ACWA Power signs an MoU with the Ministry of Housing and Egyptian Electricity Holding to develop Egypt’s sustainable water desalination sector. Desalination plants to be powered using renewable energy sources, including solar and wind. In the presence of His Excellency Dr. Mostafa Madbouly, Prime Minister of Egypt, ACWA Power signed a Memorandum of Understanding (MoU) […]
China’s Silk Road Fund acquires 49% stake in ACWA Power’s renewables unit
China’s Silk Road Fund buys into Egypt renewable energy scene through acquisition of large Acwa Power stake: China’s state-owned Silk Road Fund has acquired a 49% stake in Saudi utility developer Acwa Power’s renewable energy unit, Arabian Business reports. No details of the investment have been released. The renewable energy platform, Acwa Power RenewCo, will own Acwa Power’s solar power and […]
Egypt signs $2.3 billion power plant deal with Saudi ACWA Power
Egypt signed a deal with Saudi Arabian utility developer ACWA Power on Thursday to build a $2.3 billion power plant in the country’s south, the Egyptian electricity minister said. The plant, which will have a capacity of 2,250 megawatts (MW), will be built in Luxor province, the minister, Mohamed Shaker, told a news conference. He […]
ACWA Power reaches financial close for three solar plants in Benban
ACWA Power’s three Solar PV projects for 165.5MWp under Round 2 of Egypt FiT program II reaches financial close. • ACWA Power has reached financial close of three solar photovoltaic power plants in Benban under Round 2 for 165.5MWp total capacity within the Feed-in-Tariff (FiT) program. • ACWA Power had signed the Power Purchase Agreement […]
