Renewables firm Masdar, energy infrastructure developer Infinity Power and investment company Hassan Allam Utilities have signed a land agreement with Egypt’s New and Renewable Energy Authority which paves the way for the three parties to commence with the development of a 10GW onshore wind facility in the North African country. Set to be Africa’s largest wind facility, the project will cost an estimated $10 billion. Once complete, the facility will generate 47,790 GWh of electricity per year and help reduce Egypt’s annual carbon emissions by 23.8 million tons while saving up to $5 billion in natural gas costs for the country.
H.E Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Chairman of Masdar, said the project “…is a sign of the strong partnership between the UAE and Egypt, with great potential to create jobs, cut emissions and power homes with clean electricity at competitive economical costs.”
The project is in line with Egypt’s ambitions to expand its renewables portfolio to 42% of the total energy mix, supporting the country’s endeavors to achieve energy security while decarbonizing the energy industry.
HE Dr Mohamed Shaker Al-Markabi, Minister of Electricity and Renewable Energy of Egypt, added that the project has the potential to unlock new foreign direct investments within the country’s renewables market while positioning the North African country as a major exporter of green energy to Europe.
For Masdar, the milestone is in line with the company’s efforts to help African countries maximize energy production, leveraging the latest technologies with the lowest competitive cost.
The development follows Masdar, Infinity Power and Hassam Allam Utilities entering into a deal with the Egyptian government for the development of green hydrogen production facilities last year, with the three targeting to produce 4 GW of clean capacity by 2030 and 480,000 tons of green hydrogen per year.
