ACWA Power, a leading Saudi developer, investor, and operator of power generation, water desalination, and green hydrogen plants worldwide, has signed a memorandum of understanding (MoU) with the New and Renewable Energy Authority (NREA) in order to allocate land for a 10 GW wind project in Egypt.

The MoU allocates approximately 3,000 square kilometers of land west of Sohag, an urban center, for the project.

The wind project is expected to generate around 50 thousand gigawatt-hours of clean energy annually, providing electricity to around 11 million households and mitigating the impact of 25.5 million tons of carbon emissions each year.

For his part, Dr. Mohamed Shaker Al-Marqabi, Egyptian Minister of Electricity and Renewable Energy, said that, “This project is also an extension of the historical relations between the Egyptian state and the brotherly Kingdom of Saudi Arabia and reflects the bonds of fruitful and constructive cooperation between the two countries. We foresee that the positive contributions with financing institutions and development partners, as well as the comparative advantages of Egypt in terms of the availability of land, will show that Egypt has what it takes to produce renewable energy for domestic consumption and export.”

The 10 GW wind power plant is expected to provide the Egyptian economy with $6.5 billion savings in annual natural gas costs, in addition to creating up to 120,000 job opportunities, as per the company statement.