CAIRO — The Egyptian government has signed an agreement with a consortium led by the Saudi company ACWA Power for the largest wind energy production project in the Middle East.

With investments reaching up to $1.5 billion, the project will be established in the Gulf of Suez and Jebel El-Zeit regions, boasting a capacity of 1.1 gigawatts.

In a statement following the signing, Egyptian Minister of Electricity and Renewable Energy Dr. Mohamed Shaker said that the project is one the world's largest onshore wind energy undertaking. It is expected to reduce carbon dioxide emissions by 2.4 million tons annually, save approximately 840,000 tons of fuel per year, and provide electricity to 1 million residential units in Egypt.

Thomas Brostrom, the ACWA Power chief investment officer, said that the project will utilize cutting-edge wind turbine technology, featuring blade heights of around 220 meters, which will be the tallest in the Gulf of Suez region.

Egyptian Prime Minister Mostafa Madbouly and Saudi Deputy Ambassador to Egypt Abdulrahman bin Salem Al-Dahas attended the signing ceremony.

The agreement was signed by Dr. Mohammed El Khayat, the executive chairman of Egypt’s New and Renewable Energy Authority, Mohamed Hamdouch, ACWA Power’s vice president for business development in Africa, Hassan Amin, ACWA Power's Egypt country director, and Dalia Wahba, the CEO of Egypt’s Hassan Allam Utilities. — SPA