Arab Finance: The Egyptian Electricity Transmission Company (EETC) signed a power purchase agreement (PPA) with UAE-based renewable energy firm Alcazar Energy to develop a 407-megawatt wind farm in Zafarana, EETC stated on August 3.

The project is scheduled to begin commercial operations in 2028 and is expected to generate enough electricity to serve approximately 775,000 homes.

EETC said the wind farm would also reduce carbon emissions, expand the share of renewable energy in Egypt’s energy mix, and support the stability and sustainability of electricity supplies.

The signing ceremony was attended by EETC board member for studies and designs Adel El-Hariri and Hamida Mahfouz, head of the company’s Private-Sector Power Plant Connection Sector.

EETC Chairperson Mona Rizk said EETC is continuing to upgrade and reinforce the unified national grid under the direction of Minister of Electricity and Renewable Energy Mahmoud Esmat. The work is intended to accommodate growing renewable-energy capacity and transmit electricity efficiently and safely to load centers across the country.

She added that the agreement reflects investor confidence in Egypt’s electricity sector and the country’s efforts to attract private investment in clean-energy projects. Cooperation with the private sector remains a key part of Egypt’s plans to expand renewable generation and strengthen energy security, she noted.