ACWA Power pens SAR 8.6B deal for Egypt's Hurghada wind project

Saudi Minister of Energy Prince Abdulaziz bin Salman announced that ACWA Power Co. signed a power purchase agreement (PPA) with the Egyptian Electricity Transmission Co. for a 2-gigawatt wind energy project in South Hurghada.

The project, the largest of its kind in Egypt, is estimated to cost SAR 8.6 billion.

The project, the largest of its kind in Egypt, is estimated to cost SAR 8.6 billion, the minister said at the Egypt Energy Show (EGYPES 2025).

He added that five renewable energy projects were implemented by Saudi companies in Egypt, leveraging solar and wind power. The projects were carried out by ACWA Power, Alfanar, FAS, and MOWAH, with a combined capacity of 1.696 GW and total investments of approximately SAR 6.2 billion.

He also stressed that the Saudi-Egypt Electricity Interconnection Project is a significant step toward regional cooperation, with a SAR 6.7 billion investment and the ability to exchange 3,000 megawatt (MW) of electricity between the two nations once completed.

Further, the minister said an implementation plan for energy efficiency between Saudi Arabia’s Ministry of Energy and Egypt’s Ministries of Petroleum & Mineral Resources and Electricity & Renewable Energy was signed.

The plan aims to establish a national energy efficiency program, with Saudi Arabia contributing its expertise, technical support, and regulatory guidance. The collaboration will also focus on capacity building, public awareness, and the development of the energy services sector.