The MoU, signed by Mohamed El Khayat, Chairman of the NREA, and Hassan Amin, Country Director for Egypt at ACWA Power, will allocate approximately 3,000km2 of land near the city of Sohag to the Saudi Arabian company for the project’s development.
The signing ceremony took place at Egypt’s Council of Minister headquarters in the city of El Alamein and in the presence of Egypt’s Prime Minister, Moustafa Madbouly; Egypt’s Minister of Electricity and Renewable Energy, Mohamed Shaker; Consul General of Saudi Arabia in Alexandria, Maya bin Muhammad Al-Huwaishan; Chairman of the Egyptian Electricity Transmission Company, Sabah Mashaly and ACWA Power CEO, Marco Arcelli.
“Egypt has adopted an ambitious program to advance the electricity sector in various fields, which includes maximizing the utilization of new and renewable energy resources, encouraging investment in these fields to enable energy independence from fossil fuels, continuing to reduce carbon emissions, and increasing renewable energy capacity in the energy mix up to 41% by 2035,” Minister Shaker stated.