Saudi ACWA Power has signed an agreement with the Egyptian Ministry of Electricity, under which it will invest $1.5 billion in the construction of the largest wind power plant in the Middle East.
The Prime Minister of Egypt, Mostafa Madbouly, met with the Chairman of the Board of Directors of "ACWA Power" Mohamed Abu Nyan, and the regional director of the company, Hassan Amin, in the presence of the Minister of Electricity and Renewable Energy, Dr. Mohamed Shaker.
Abu Nyan confirmed that ACWA Power is interested in investing in Egypt in two promising fields. The first is water desalination, in light of the fact that the company is the largest producer of desalinated water in the world, and it has great experience in this field that enabled it to reduce the level of energy consumed in desalination processes.
Abu Nyan added that the second field is the production of green hydrogen, as Egypt has promising capabilities in this field, and ACWA Power wants to transfer its expertise to Egypt in this field, especially since Egypt has a large infrastructure thanks to the unprecedented projects led by the President Abdel Fattah El-Sisi, President of the Republic, and therefore it is qualified to attract global investments to produce green hydrogen.
Madbouly welcomed the company's desire to invest in the field of water desalination, especially that Egypt has an ambitious plan to increase the amount of desalinated water to 6 million cubic meters per day, over the next few years, stressing in this context the importance of the projects of setting up desalination plants with an actual plan to establish Factories for the production of membranes used in the work of the stations, in order to settle this industry in Egypt.
The Prime Minister directed the study of the company's proposal to produce green hydrogen in Egypt, stressing that Egypt is ready and qualified in all respects to be a center for producing, exporting and transporting green hydrogen.
The Source
- Arab Media