UAE-based Masdar, its Infinity Power joint venture (JV) with Egyptian renewable energy developer Infinity, and Hassan Allam Utilities will build a 10GW onshore wind project in Egypt.
A memorandum of understanding (MoU) was signed in this regard by Masdar chairman and UAE Minister of Industry and Advanced Technology, UAE Special Envoy for Climate Sultan Ahmed Al Jaber and Egypt Minister of Electricity and Renewable Energy Mohamed Shaker El-Markabi.
The signing of the MoU took place on the sidelines of the ongoing 2022 United Nations Climate Change Conference (COP27) in Sharm El-Sheikh, Egypt.
The project is expected to be among the largest wind farms in the world.
Al Jaber said: “The scale of this mega 10 GW onshore wind project – one of the largest winds farms in the world – is a testament to the renewable energy ambitions of the United Arab Emirates and the Republic of Egypt, and demonstrates Masdar’s status as a global leader in clean energy.
“Under the guidance of our leadership, the UAE has been at the forefront of positive climate action in the region – and globally, as reflected in the recent US-UAE Partnership for Accelerating Clean Energy (PACE). The UAE and Masdar will continue to support Egypt’s net-zero goals, and we will endeavor to take forward the gains made here at COP27, as the UAE prepares to host COP28 next year.”
Upon its completion, the Egyptian wind farm will generate 47,790GWh of clean energy per year. It will avoid 23.8 million tonnes of carbon dioxide emissions, which is equivalent to nearly 9% of the current CO2 emissions of Egypt.
According to Masdar, the onshore wind project will be part of the Green Corridor initiative of Egypt. The initiative is to develop a grid dedicated to renewable energy facilities to help Egypt in reaching its goal of having 42% of its energy mix with renewable energy by 2035.
The wind farm is expected to provide an estimated $5bn of savings in annual natural gas costs for Egypt. Besides, it will help generate as many as 100,000 jobs.
Direct employment in the construction stage is projected at nearly 30,000. Post-construction, close to 3,200 jobs will be added to handle the operation and maintenance of the Egyptian wind project.
Masdar CEO Mohamed Jameel Al Ramahi said: “With this agreement to develop our largest ever project, Masdar is proud to bolster our contribution to Egypt’s renewable energy goals, while strengthening our partnerships with Infinity Power and Hassan Allam Utilities, and building on our relationship with the Egyptian Government.
“We are confident this project will help provide clean and sustainable energy to Egypt’s people while ensuring the country meets its decarbonisation commitments.”
