Riyadh – Mubasher: ACWA Power inked a power purchase agreement (PPA) valued at SAR 8.60 billion for a wind energy project in Egypt, according to a bourse statement.
The Saudi company will develop, build, own, and operate a wind power generation plant in Hurghada, with a capacity of up to 2 gigawatts (GW).
ACWA Power signed the 25-year deal with the Egyptian Electricity Transmission Company (EETC) on 18 February 2025.
The financial impact is expected to be reflected in the company’s statements in 2026.
In January, ACWA Power partnered with HAU Energy, a subsidiary of Hassan Allam Utilities, for the 1.1-GW Suez Wind Farm in Egypt.
