UAE President His Highness Sheikh Mohamed Bin Zayed Al Nahyan and Egyptian President Abdel Fattah El Sisi on Tuesday witnessed the signing of an agreement between Masdar, one of the world’s fastest-growing renewable energy companies, along with Infinity Power, Egypt’s main renewable energy developer, and Hassan Allam Utilities, to develop a 10-gigawatt (GW) onshore wind project in Egypt, one of the largest wind farms in the world.
The MoU was signed by Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, UAE Special Envoy for Climate, and Chairman of Masdar, and Sabah Meshaly, chairwoman of the Egyptian Electricity Transmission Company (EETC), on the side lines of the 2022 United Nations Climate Change Conference (COP27) in Sharm El Sheikh.
Dr Al Jaber said: “The scale of this mega onshore wind project, one of the largest winds farms in the world, is a testament to the renewable energy ambitions of the UAE and 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 endeavour to take forward the gains made here at COP27, as the UAE prepares to host COP28 next year.”
When completed, the 10 GW wind farm will produce 47,790 GWh of clean energy annually and offset 23.8 million tonnes of carbon emissions – equivalent to around 9% of Egypt’s current emissions. The project will be part of Egypt’s Green Corridor initiative – a grid dedicated to renewable energy projects – and will contribute to Egypt’s goal of ensuring renewable energy makes up 42% of its energy mix by 2035.
The wind farm will also save Egypt an estimated $5 billion in annual natural gas costs, and help create as many as 100,000 jobs. Direct employment in the construction phase is estimated at around 30,000, with as many as 70,000 people being employed indirectly. After construction, around 3,200 jobs will be added for operation and maintenance.
Mohamed Jameel Al Ramahi, CEO of Masdar, said: “With this agreement, Masdar is proud to bolster our contribution to Egypt’s renewable energy goals, while strengthening our partnership 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.”
Nayer Fouad, CEO, Infinity Power, said that it has always been their endeavour to create opportunities where organisations and governments can make the shift to a more sustainable and renewable source of energy.
“We are confident that this project will greatly benefit the country and enable Egypt to take great steps forward on its journey in becoming a more sustainable and green nation. We look forward to expanding our portfolio of sustainable energy solutions that benefit not only Egypt, but provide the entire continent with a clean, green future.”
In April, Masdar and Hassan Allam Utilities signed two MoUs with Egypt’s state-backed organisations to cooperate on the development of 4 GW green hydrogen production plants in the Suez Canal Economic Zone and on the Mediterranean coast. In the first phase of the project, a green hydrogen manufacturing facility will be developed and operational by 2026, able to produce 100,000 tonnes of e-methanol annually for bunkering in the Suez Canal.
The electrolyser facilities could be extended to up to 4 GW by 2030 to produce 2.3 million tonnes of green ammonia for export as well as supply green hydrogen for local industries. Egypt enjoys abundant solar and wind resources that allow for renewable-power generation at a highly competitive cost – a key enabler for green hydrogen production.
It is also located near markets where the demand for green hydrogen is expected to grow the most, providing robust opportunities for export. Active in more than 40 countries across the world, Masdar is invested in a portfolio of renewable energy assets with a combined value of more than US$20 billion and a total capacity of more than 15 GW.