Home » Egyptian tycoon Hassan Allam’s group secures land access for $10-billion wind farm project

Egyptian tycoon Hassan Allam’s group secures land access for $10-billion wind farm project

The agreement grants access to a 3,025-square-kilometer site in West Suhag, a city on the west bank of the Nile in Egypt

by Yusuf Abdulfatai
Hassan Allam

Hassan Allam Holding, a privately held engineering and construction conglomerate under the leadership of Egyptian businessman Hassan Allam Holding, has signed a land access agreement with the Egyptian government for a 10-gigawatt (GW) onshore wind farm. The project, one of the world’s largest, could exceed $10 billion in value.

Landmark agreement paves way for development

The agreement grants the consortium, which includes Hassan Allam Utilities, the sustainable infrastructure-focused development and investment platform of Hassan Allam Holding, Masdar and Infinity Power, access to a 3,025-square-kilometer site in West Suhag. This enables them to conduct essential development studies, including resource measurement, geotechnical and topographic surveys, and environmental impact assessments.

Findings from these studies will be instrumental in progressing towards construction. Once built, the wind farm will deliver significant benefits to local communities. This includes job creation with a focus on local hiring, community support initiatives, and environmental protection measures.

The landmark wind project will generate 47,790 gigawatt-hours (GWh) of clean energy annually, displacing 23.8 million tons per year (tpy) of carbon dioxide and reducing Egypt’s annual carbon emissions by about 9 percent. It will also contribute to Egypt’s goal of sourcing 42 percent of its energy from renewables by 2030. The wind farm is estimated to save the country $5 billion annually in natural gas costs.

Hassan Allam Holding: A regional powerhouse

This development comes on the heels of another major win for Hassan Allam Holding. The engineering and construction conglomerate recently secured the signaling contract for the landmark UAE-Oman railway project, marking a first for the Middle East and Arab world.

Led by Hassan and Amr Allam, the group boasts over eight decades of experience in the engineering, construction, and utilities sectors. With a construction backlog exceeding $3 billion, Hassan Allam Holding has played a pivotal role in driving economic growth across North Africa and the Middle East.

Further solidifying its regional ambitions, the company strategically inaugurated its regional headquarters in Riyadh, Saudi Arabia, in March 2024. This move underscores their commitment to expanding their influence across the Middle East and Africa, building upon their existing presence in the UAE, Oman, Libya, Jordan, and Algeria.

You may also like


The world’s premier source of news on Africa’s billionaires and UHNWIs.


Get the daily email to stay informed about African billionaires and UHNWIs. Get informed and entertained, for free.

Latest News

@2024 – Billionaires.Africa. All Rights Reserved.