Masdar, the UAE’s leading renewable energy company, its joint venture Infinity Power and its Cairo-based partner Hassan Allam Utilities, on Wednesday signed a land access agreement for its 10 GW onshore wind project in Egypt with the government of the country.
The signing, witnessed by Egyptian Prime Minister Moustafa Madbouly, is a major step towards the construction of the megaproject, the consortium states in an announcement.
The agreement gives the partners access to 3,025 square kilometers of land in West Suhag and will allow them to carry out studies to advance the project, such as resource measurement, geotechnical studies and environmental studies.
The consortium signed the initial project agreement to develop the 10 GW wind farm with the Egyptian Electricity Transmission Company on the sidelines of COP27 in 2022.
“This wind farm is an ambitious and important project, which will be one of the largest in the world, and we are delighted to take this step forward. It is a hugely important project for Egypt and the wider region, and also highlights Infinity Power as a platform of leading investment in renewable energy, capable of offering renewable projects on the largest scale,” commented Infinity Power CEO Nayer Fouad.
According to the partners, the huge wind project will generate 47,790 GWh per year, reducing around 9% of Egypt’s annual carbon emissions. It will also help Egypt meet its target of 42% renewable energy by 2030 and save approximately $5 billion (€4.6 billion) in natural gas costs per year.
