The agreement aims to develop a 10 gigawatt (GW) onshore wind power project in Egypt and build one of the largest wind farms in the world.
On the sidelines of the United Nations Climate Change Conference 2022 (COP27) in Sharm El-Sheikh, a Memorandum of Understanding (MoU) was signed between the United Arab Emirates and the Arab Republic of Egypt, represented by the UAE Minister of Industry and Advanced Technology (Dr Sultan Ahmed Al Jaber) and the Egyptian Minister of Electricity and Renewable Energy (Dr Mohamed Shaker El-Markabi) respectively.
The intention of this 10 GW onshore wind mega-project – one of the largest wind farms in the world – is a testament to the renewable energy ambitions of the UAE and the Republic of Egypt.
Renewable energy will be 42% of Egypt’s energy mix by 2035
The project will be led by Masdar (United Arab Emirates), a company active in the renewable energy market.
When completed, the 10 GW wind farm will generate 47,790 GWh of clean energy per year and offset 23.8 million tonnes of carbon dioxide emissions, or about 9% of Egypt’s current CO2 emissions.
The project will be part of Egypt’s Green Corridor initiative – a network dedicated to renewable energy projects – and will contribute to Egypt’s goal of having renewable energy make up 42% of its energy mix by 2035. The wind farm will also save Egypt around $5 billion in annual natural gas costs and help create up to 100,000 jobs. It is estimated that about 30,000 direct jobs will be created during construction, and 70,000 indirect jobs. After construction, approximately 3,200 jobs will be created for operation and maintenance.
Mr. Mohamed Jameel Al Ramahi, Masdar’s Chief Executive Officer, said: “With this agreement to develop our largest project, Masdar is proud to strengthen its contribution to Egypt’s renewable energy goals, while reinforcing its partnerships with Egyptian companies Infinity Power and Hassan Allam Utilities. We are confident that this project will help provide clean and sustainable energy to the Egyptian people, while ensuring that the country meets its decarbonisation commitments.”