ACWA Power, Saudi Arabia’s renewable energy leader, has announced plans to construct, own, and operate a 2GW wind power plant in South Hurghada, Egypt, which is expected to provide electricity to nearly 2 million homes. The project, valued at SAR 8.6 billion ($2.3 billion), is backed by a 25-year power purchase agreement (PPA) with Egypt’s state-run Electricity Transmission Company. ACWA Power aims to reach financial close on the project by next year, pending the completion