, APAC
Photo from ACWA Power.

ACWA Power, OIA ink MoU to co-invest in 1.5GW wind project in Egypt

The Oman Investment Authority is looking into owning 10% of the project.

ACWA Power and the Oman Investment Authority (OIA) signed a memorandum of understanding to explore the potential of co-investing in the 1.1-gigawatt Suez Wind Project in Egypt.

Under the MoU, OIA will study the possibility of holding up to a 10% stake in the $1.5b-worth wind project.

Egyptian engineering, construction and infrastructure firm Hassan Allam Holdings owns 25% of the project, whilst the remaining is held by ACWA Power.
 

READ MORE: ACWA Power net profit surges 110% YoY in first 9 months of 2022

The project, which will be the largest single contracted wind farm in the Middle East, is expected to operate by 2026 and abate the impact of 2.4 million tonnes of carbon dioxide emissions annually and supply electricity to 1.08 million households.

Follow the link for more news on

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!