Mostafa Madbouly, Prime Minister of Egypt witnessed the signing ceremony of the usufruct agreement for a wind energy production project in the Gulf of Suez and Gabal El-Zeit regions, with a capacity of 1.1 gigawatts, and with investments amounting to $1.5 billion, between the New and Renewable Energy Development Authority and an alliance led by ACWA Power that includes Hassan Allam.
Mohamed Shaker, Minister of Electricity explained that according to the agreement, the coalition will work during the project development phase to complete site studies and secure financing for the project, which will be located in the Gulf of Suez and Gabal El-Zeit regions.
He stressed that this project is the largest of its kind for producing energy from wind in the Middle East, and one of the largest onshore wind energy projects in the world.
He added that with the completion of the project, it will contribute to reducing 2.4 million tons of carbon dioxide emissions annually, saving about 840,000 tons of fuel annually, and creating about 6,000 direct and indirect job opportunities, in addition to providing electricity to about one million housing units.
In turn, Thomas Brostrom, Chief Investment Officer of ACWA Power explained that the project will be designed to use the latest wind turbine technologies, which reach a height of about 220 metres, to be the highest in the Gulf of Suez region, which will help in using the lands allocated for the project at the highest level of efficiency. .
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