Global Courant
The Abu Dhabi Future Energy Company PJSC – Masdar announced the signing of an agreement with Egypt along with Infinity Power and Hassan Allam Utilities New and Renewable Energy Authority to secure land for the construction of a 10 gigawatt (GW) capacity onshore wind farm in Egypt, which will become one of the largest in the world.
The project is worth more than $10 billion.
The signing in Cairo was attended by Egyptian Prime Minister Mostafa Madbouly, UAE Minister of Industry and Advanced Technology Sultan al-Jaber, Egyptian Minister of Electricity and Renewable Energy Mohamed Shaker. Chief Executive Officer of Masdar, Mohamed Jameel al-Ramahi, Chief Executive Officer of Infinity Power, Nayer Fouad, and Chief Executive Officers of Hassan Allam Holding Hassan and Amr Allam.
The historic wind project will produce 47,790 GWh of clean energy per year and reduce about nine percent of Egypt’s annual carbon emissions by replacing 23.8 million tons of carbon dioxide annually.
The wind farm will also help Egypt meet its strategic goal of sourcing 42 percent of its energy from renewable sources by 2030.
The 10GW plant will save the North African country an estimated $5 billion in natural gas costs per year.
The initial agreement for the development of the 10 GW wind farm was signed between Masdar, Hassan Allam Utilities and Infinity Power and the Egyptian electricity transmission company and was attended by the presidents of the UAE and Egypt on the sidelines of the UN Climate Change Conference, COP27 , in Sharm el-Sheikh last year.
The project is being developed by the consortium led by Masdar and its partners: Infinity Power, Masdar’s joint venture with Egypt’s Infinity, Africa’s largest pure-play renewable energy company; and Hassan Allam Utilities, a sustainable infrastructure focused investment platform.
