The Agreement to Build One of the Largest Wind Farms in the World
SHARM EL-SHEIKH – An agreement to build in Egypt one of the largest wind farms in the world was signed in front of the presidents of the UAE and Egypt, according to an official announcement on the state news agency of the Gulf nation.
The agreement was signed by the UAE-based renewable energy company Masdar, its joint venture with Egypt’s leading renewable energy developer Infinity, and Hassan Allam Utilities, according to a statement by news agency WAM.
Sultan Al-Jaber, the chairman of Masdar and the UAE’s special climate envoy, the country’s minister of industry, and the head of the national energy company Adnoc, signed the agreement on the margins of the ongoing COP27 climate meeting in Sharm El-Sheikh, Egypt.
Masdar’s Largest Project
The new project is meant to be one of the largest wind farms in the world. Masdar already manages a portfolio of renewable energy assets with a capacity of more than 15 GW and a total value of over $20 billion.
According to Mohamed Jameel al-Ramahi, CEO of Masdar, Masdar is thrilled to strengthen its commitment to Egypt’s renewable energy ambitions with this deal to create its largest-ever project.
Generating Clean Energy
The 10 GW farm would generate 47,790 GWh of clean energy annually while reducing 23.8 million tonnes of carbon dioxide emissions, or around 9% of Egypt’s current CO2 emissions.
Egypt’s Renewable Energy
As the UAE prepares to host COP28 the following year, Masdar and the UAE will continue to support Egypt’s net-zero ambitions and work to build on the progress established at COP27.
When complete, the wind farm will be a part of Egypt’s Green Corridor plan, a network of renewable energy projects with a 2035 target of 42% renewable energy in the country’s energy mix.
The wind project will enable Egypt to save $5 billion yearly on natural gas costs. Egypt’s renewable energy authority released an annual report stating that the nation’s installed electrical capacity was around 59.5 GW in 2019/2020.
The Initiative Impact
According to Mohamed Mansour, the chairman of Infinity Power, the Masdar and Infinity joint venture, the initiative will allow the nation to conserve enormous volumes of natural gas, foster economic growth, lower carbon emissions, and expand access to renewable energy sources.
Green Hydrogen Production Plants
Masdar and Hassan Allam Utilities signed two memorandums of understanding in April with state-sponsored institutions in Egypt to work together on the construction of 4 GW green hydrogen production plants in the Suez Canal Economic Zone and along the Mediterranean coast.
According to the statement, a green hydrogen production plant capable of producing 100,000 tonnes of e-methanol yearly for bunkering in the Suez Canal will be built as part of the project’s first phase and operational by 2026.
The electrolyser facilities might be expanded to 4 GW by 2030 to create 2.3 million tonnes of green ammonia for export and green hydrogen for nearby companies.