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RIYADH: Saudi Arabia’s ACWA Power has invested $1.5 billion in a wind power plant in Egypt as the company expands its horizons in renewable energy.
The 25-year agreement was signed with the Egyptian Electricity Transmission Co, the PIF-owned utility said in a bourse filing.
The deal will see ACWA Power develop, build, and operate the 1,100-megawatt wind farm, located in the Gulf of Suez in Egypt.
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