The Saudi Energy Ministry said that the Riyadh based utility company had signed a preliminary agreement with the New Energy and Renewable Energy Administration of North African countries and the Egyptian Power Transmission Company. Egyptian Minister of Electricity and Renewable Energy Mohamed Shakir met with Saudi Energy Minister Prince Abdulaziz Bin Salman during his official visit to discuss cooperation between the two countries in the field of electricity and renewable energy.

The Saudi Energy Ministry said that the value of the project has not been disclosed, and the final agreement will depend on the feasibility study and land availability. The agreement was reached a few days before the United Nations COP27 Climate Summit held in Sharm el Sheikh from November 6 to November 18, 2022. Egypt aims to increase its renewable energy from about 11% in 2019 to 42% by 2035.

Acwa Power develops, invests and operates power generation and desalination plants. It currently has 67 projects in operation or under construction in 13 countries in Asia and Africa, with an investment value of more than 66.5 billion dollars. Its goal is to increase its power generation capacity from 43 GW to 120 GW in the next decade. The company has already planned two solar projects and another wind farm project in Egypt. Its three solar photovoltaic power plants located in the Benban Solar Park in Aswan will be put into operation in 2019, with a total capacity of 120 MW and a total investment of 185 million dollars.

Its 200 MW Kom Ombo solar power plant is also located in Aswan and will be put into operation in the third quarter of 2023. It is estimated that 130000 households will be provided with electricity every year and 280000 tons of carbon dioxide will be offset. The consortium led by Acwa, including Hassan Alam Holding Company, headquartered in Egypt, signed an agreement worth US $1.5 billion in June for the 1.1 GW wind power project in the Gabal El Zeit area of Suez Bay on the Red Sea.

Acwa said that once the plant is put into operation by the end of 2026, it will be able to supply power to more than 1 million households and offset about 2.4 million tons of emissions annually. Orascom Construction in Egypt, Toyota Tongshang, Toyota's trade department, and Engie, a French multinational utility company, broke ground in nearby Ras Ghareb, a 500MW wind farm. At present, Egypt's largest wind farm, with power generation of 545MW, is located in Zafarana, Ras Ghareb region.Editor/Xing Wentao