ACWA Power Consortium and Egyptian Electricity Transmission Company (EETC) have signed a 25-year Power Purchase Agreement with a total investment value of US$1.5 Billion for the development/construction/operation of a 1.1 GW Wind Power Plant Project. EETC acts as the sole off-taker.
The project will be located in Suez Gulf and Gabal El Zeit province near Ras Gharib city and will be developed as a ‘Build, Own, Operate’ project. ACWA Power will take the lead in developing, financing, engineering, constructing, operating and maintaining of the plant delivering power to the unified national grid.
Worth noting, the energy will be generated Using 220 m tip height Wind Turbines with the latest technology, the plant is set to deliver highly efficient performance and be capable of powering 1,080,000 homes, while offsetting nearly 2.4 million tons of emissions per year.
KEY FACTS
LOCATION
Suez Gulf and Gabal El Zeit, Ras Gharib, Egypt
OFFTAKER
Egyptian Electricity Transmission Company (EETC) Power
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