$10 B onshore wind farm in Egypt
New agreement secures land for an Egypt onshore wind farm in a deal worth over $10 B.
Image for illustration purposes.
Egypt, Cairo: New agreement secures land for an Egypt onshore wind farm in a deal worth over $10 B.
Masdar, Infinity Power and Hassan Allam Utilities, have signed an agreement with Egypt to secure land to build a 10 GW capacity wind farm. The project will be one of the largest in the world, with a value of over $10 B. It will produce 47,790 GWh of clean energy per year.
The wind farm will also reduce Egypt’s yearly carbon emissions by approx. 9 %, displacing 23.8 M tons of CO2 every year. The wind farm will help Egypt meet its objective of producing 42 % of its energy from renewables by 2030.
Sultan Al Jaber, UAE Industry and Advanced Technology Minister, Masdar chairman and COP28 President-Designate, said: “This 10GW onshore wind project is set to be one of the largest wind farms in the world and largest on the African continent. The world needs to triple renewable energy capacity by 2030 to meet the goals of the Paris Agreement. Projects like these will support the global efforts to reduce the impact of climate change and help keep the ambition of 1.5 °C intact while enabling significant socio-economic growth.”
The wind farm one of several renewable energy projects across Egypt.
Mohamed Shaker Al-Markabi, Egypt’s Electricity and Renewable Energy Minister, said the country wants to advance its electricity sector in various fields. “Foremost of which is optimising the use of new and renewable energy resources and encouraging investment in this field.” It is in line with Egypt’s energy strategy to have up to 42 % of “our energy mix from renewable energy sources by 2030.” This would “complement the National Climate Strategy 2050 to face the challenges of climate change and achieve sustainable economic growth.”
Source: ESI Africa
#Hassan Allam Utilities#Infinity Power#Masdar#onshore wind farm