The Memorandum of Understanding was signed Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, UAE Special Envoy for Climate, and Chairman of Masdar, and Dr. Mohamed Shaker El-Markabi, Egypt’s Minister of Electricity and Renewable Energy, on the sidelines of COP27 in Sharm El-Sheikh.
Renewable energy company Masdar, renewable energy developer Infinity Power and Hassan Allam Utilities have signed a Memorandum of Understanding (MoU) to develop a 10GW onshore wind project in Egypt.
The agreement was signed by Dr. Sultan Ahmed Al Jaber, UAE minister of industry and advanced technology, UAE special envoy for cimate, and chairman of Masdar, and Dr. Mohamed Shaker El-Markabi, Egypt’s minister of electricity and renewable energy at COP27 in Sharm El-Sheikh.
Dr. Al Jaber said in a statement: “The scale of this mega 10GW onshore wind project – one of the largest wind farms in the world – is a testament to the renewable energy ambitions of the United Arab Emirates and the Republic of Egypt…
“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.”
When completed, the 10GW wind farm will produce 47,790GWh of clean energy annually and offset 23.8 million tonnes of carbon dioxide emissions.
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.
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.
Mohamed Ismail Mansour, Infinity Power chairman, said, “The project will enable the country to save vast amounts of natural gas; thereby attaining economic growth, reduce carbon emissions and provide greater access to sustainable energy sources, enabling Egypt to move forward in its journey towards becoming a green economy.”
In April, Masdar and Hassan Allam Utilities signed two MoUs with Egyptian state-backed organisations to cooperate on the development of 4GW 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.
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.
