Saudi Arabian independent power producer (IPP) Acwa Power and its partner Hassan Allam Utilities have signed a 25-year usufruct agreement for the Jabal el Zeit wind megaproject. The facility will have a capacity of 1,100 MW, making it one of the largest clean energy plants on the African continent.
More news on the Jabal el Zeit wind megaproject in Egypt. Saudi Arabian independent power producer (IPP) Acwa Power and Egyptian flagship Hassan Allam Utilities have just signed a 25-year usufruct agreement with the Egyptian authorities for the development of this energy infrastructure at Jabal el Zeit in the Gulf of Suez.
The agreement will enable the construction and operation of a wind farm with a capacity of 1,100 MW, equivalent to the installed electrical capacity of a country like Malawi (993 MW). “This project is expected to be the largest wind energy project of its kind in the Middle East and one of the largest onshore wind energy projects in the world,” says Hassan Allam.
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According to him, the wind farm will reduce carbon dioxide (CO2) emissions by 2.4 million tonnes a year and supply electricity to just over a million Egyptian homes. In order to launch the wind turbines by 2026, the two developers will have to invest $1.5 billion.
Acwa Power has decided to open up the capital of the project to several other investors. This includes The Sovereign Fund of Egypt (TSFE), which will hold a 10% stake. The Oman Investment Authority (OIA) will also invest in the Jabal el Zeit wind megaproject. Following on from this mega-project, Acwa Power is continuing to develop its solar photovoltaic plant at Kom Ombo, which will add 200 MWp to the Egyptian Electricity Transmission Company (EETC) grid.
Jean Marie Takouleu
