TSFE joins ACWA Power as co-investor of 1.1-GW wind energy project in the Suez Gulf Area
Valued at US$1.5 billion, the project is expected to be commissioned by 2026
SHARM EL SHEIKH, Egypt — ACWA Power signed a memorandum of understanding with The Sovereign Fund of Egypt to explore a joint investment in the 1.1-GW wind energy project, located in the Gulf of Suez in Egypt.
The memorandum was signed at COP27 in Sharm El Sheikh by Karim Badr, CEO of TSFE Infrastructure & Utilities Subfund; Yasir Mahmoud, executive vice president of business development at ACWA Power; and Hassan Amin, country director for Egypt at ACWA Power in the presence of Egypt Electricity Transmission Committee (EETC) delegates, Egypt’s New and Renewable Energy Authority delegates, and other senior executives.