Saudi Arabia-listed ACWA Power has signed a power purchase agreement (PPA) with the state-run Egyptian Electricity Transmission Company (EETC) for a 2-gigawatt (GW) wind energy project in South Hurghada, Egypt.

The project, valued at 8.6 billion Saudi riyals ($2.29 billion), is the largest in Egypt, Minister of Energy Prince Abdulaziz bin Salman said at the Egypt Energy Show 2025.

Five renewable energy projects have been launched by Saudi companies in Egypt, with a total capacity of 1.696 GW and an investment of nearly SAR 6.2 billion, he said.

ACWA Power, Alfanar, FAS, and MOWAH are involved in these projects.

He added that the SAR 6.7 billion Saudi-Egypt Electricity Interconnection Project will be the largest project of its kind in the region, enabling the exchange of 3,000 megawatts (MW) upon completion of its two phases.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.