Arab Finance: The Egyptian New and Renewable Energy Authority (NREA) signed a land allocation agreement with the leading Saudi operator of power plants and water desalinations ACWA Power for a 10-gigawatt (GW) wind farm in Sohag, Egypt, according to a statement on July 17th.
The project is expected to generate about 50,000 GW-hours of wind power per year.
In addition, it will reduce 2.4 million tons of carbon dioxide emissions annually, as well as deliver electricity to about 11 million residential units.
It will also provide Egypt with an estimated $6.5 billion in annual natural gas costs.