Saudi Arabia’s ACWA Power invests $1.5bn in Egyptian wind power plant 

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.