Masdar along with its Infinity Power joint venture and Hassan Allam Utilities signed an agreement to build a 10GW onshore wind power project in Egypt, reported TradeArabia.
This agreement was signed on the sidelines of the 2022 United Nations Climate Change Conference (COP27) in Sharm El-Sheikh, Egypt.
This agreement was signed in the presence of UAE President Sheikh Mohamed bin Zayed Al Nahyan and Egyptian President Abdel Fattah El Sisi.
Masdar chairman Dr Sultan Ahmed Al Jaber said: “The scale of this mega 10 GW onshore wind project 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.”
The 10GW wind farm will generate 47,790GWh of clean energy every year besides offsetting 23.8 million tonnes of CO2 emissions, which is equivalent to 9% of Egypt’s present CO2 emissions.
A part of Egypt’s Green Corridor initiative, this project forms part of the country’s aim of ensuring renewable energy makes up 42% of its energy mix by 2035.
Besides creating about 100,000 jobs, the wind farm will save $5bn in annual natural gas costs for Egypt.
Image: The 10GW wind farm will generate 47,790GWh of clean energy every year. Credit: Myriams Fotos from Pixabay.