Acwa Power signs $2.3bn Egypt wind energy project deal
CONSTRUCTION NEWS
Saudi utility major Acwa Power has announced that it has signed a power purchase agreement (PPA) worth SAR8.6 billion ($2.3 billion) for a wind energy project in Egypt.
The 25-year PPA was inked with the Egyptian Electricity Transmission Company (EETC), said Acwa Power in its filing to Saudi bourse Tadawul.
The 2GW wind power generation plant in Hurghada will be implemented on a build, own and operate (BOO) model, it stated.
The financial impact is expected to be reflected in the company’s statements in 2026, it added.-TradeArabia News Service
