ACWA Power signs 25-year power purchase agreement with EETC

18/02/2025 Argaam
Logo ofACWA Power Co.

Logo of ACWA Power Co. 

ACWA Power Co. today, Feb. 18, a 25-year power purchase agreement (PPA) with Egyptian Electricity Transmission Co. (EETC) to develop, build, own, and operate a 2-gigawatt (GW) wind power generation plant in Egypt.

 

In a statement to Tadawul, the company said the related financial impact will be disclosed at the time of financial close, which is expected in 2026.

 

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ACWA Power also indicated that the financial close will take place after the completion of the environmental studies, slated to be finished by mid-2026.

 

Saudi Minister of Energy Prince Abdulaziz bin Salman announced today that ACWA Power signed a power purchase agreement with the EETC for a 2-gigawatt wind energy project in South Hurghada, Argaam reported earlier.

 

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).

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