Saudi Arabia-based ACWA Power chairman Mohammad Abunayyan has reportedly revealed plans to invest nearly $10bn-$12bn in Egyptian conventional or renewable power generation sector over the next five years.

The plans are part of the company’s efforts to add around 10,000MW to Egypt’s national electricity grid.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Abunayyan was cited by Utilities-me.com as saying that the renewable energy share in the Egyptian energy market is anticipated to increase to 20% by 2022 and the future investment will help boost its share.

ACWA Power country manager Hassan Amin was quoted by the website as saying that Egypt’s power sector could attract new investments worth $30bn in the next five years.

"The company is already implementing three projects in Egypt totalling 150MW, under its renewable energy enhancement programme."

The company is already implementing three projects in Egypt totalling 150MW, under its renewable energy enhancement programme.

See Also:

A memorandum of understanding (MoU) to this effect has been signed between ACWA Power and Egypt’s New and Renewable Energy Authority (NREA).

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The proposed investment will be used in the construction of power generating plants totalling 10GW in the West Nile area, Utilities-me.com reported.

This will see new solar and wind power facilities, in addition to those using traditional power generation resources.

The company currently develops, co-owns and operates a portfolio of plants with a capacity to generate 18GW of power and produce 2.5 million m3/day of desalinated water.

ACWA Power uses traditional fuels and renewable energy and operates to the highest ethical standards.

The company serves its customers across three continents and currently has an investment portfolio of more than 32 plants worldwide.