UAE's renewables major Masdar, its joint venture Infinity Power and Cairo-based partner Hassan Allam Utilities are planning to develop a 10-GW wind complex in Egypt.
The companies signed a memorandum of understanding (MoU) on the sidelines of the COP27 climate summit in Sharm El-Sheikh on Tuesday. The ceremony was attended by Egypt's president Abdel Fattah El Sisi and his UAE counterpart Mohamed bin Zayed Al Nahyan.
Once up and running, the wind complex is estimated to produce 47,790 GWh of clean energy annually and offset 23.8 million tonnes of carbon dioxide emissions. To be developed as part of Egypt's renewable energy initiative dubbed Green Corridor, the project will also help the North African country save about USD 5 billion (EUR 5.0bn) in natural gas costs per year.
The construction of the complex will create some 30,000 direct jobs with further 3,200 employees to be engaged in the operation and maintenance of the turbines after their commissioning.
The plan for the mega wind project comes on the heels of two MoU between Masdar and Hassan Allam Utilities for the development of 4 GW of green hydrogen production capacity in the Suez Canal Economic Zone and on the Mediterranean coast. The plan, unveiled in April, is backed by Egyptian state-owned organisations. The plants will be built in stages with the first phase including the production of 100,000 tonnes of e-methanol annually in the Suez Canal. The first plant should enter operation by 2026.
(USD 1 = EUR 1.001)
Choose your newsletter by Renewables Now. Join for free!
