ACWA Power has signed a memorandum of Understanding with The Sovereign Fund of Egypt to explore a joint investment in the 1.1 GW Wind Energy project, located in the Gulf of Suez in Egypt at COP27 in Sharm El Sheikh.As per the terms of the MoU, ACWA Power and TSFE will now engage in discussions for TSFE’s Infrastructure & Utilities Subfund to own up to 10% of the project. Currently, project investors include Hassan Allam Holdings, an Egyptian engineering, construction and infrastructure company (25% stake) and ACWA Power. The Oman Investment Authority, the Sultanate’s sovereign wealth fund, recently signed a similar agreement with ACWA Power, to have an equity stake of up to 10% of the same facility.
ACWA Power has signed a memorandum of Understanding with The Sovereign Fund of Egypt to explore a joint investment in the 1.1 GW Wind Energy project, located in the Gulf of Suez in Egypt at COP27 in Sharm El Sheikh.As per the terms of the MoU, ACWA Power and TSFE will now engage in discussions for TSFE’s Infrastructure & Utilities Subfund to own up to 10% of the project. Currently, project investors include Hassan Allam Holdings, an Egyptian engineering, construction and infrastructure company (25% stake) and ACWA Power. The Oman Investment Authority, the Sultanate’s sovereign wealth fund, recently signed a similar agreement with ACWA Power, to have an equity stake of up to 10% of the same facility.
