UAE’s Masdar-led Consortium to Develop 10 GW Onshore Wind Farm in Egypt
The $10 billion project is expected to be one of the largest globally
UAE government-owned renewable energy company Masdar, Infinity Power, and Hassan Allam Utilities have signed an agreement with Egypt’s New and Renewable Energy Authority to develop a 10 GW onshore wind farm in Egypt.
With a project value exceeding $10 billion, the wind farm is set to be one of the largest in the world, the company said.
The wind farm will produce 47,790 GWh of clean energy annually, reducing the country’s annual carbon emissions by around 9%.
It will also contribute to Egypt’s goal of sourcing 42% of its energy from renewables by 2030 and save the nation $5 billion in natural gas costs yearly.
Masdar will lead the consortium in developing the project.
Infinity Power, one of Africa’s largest pure-play renewable power companies and a joint venture between Masdar and Egypt’s Infinity, and Hassan Allam Utilities, a sustainable infrastructure investment platform, are part of the consortium.
The project aligns with global efforts to triple renewable energy capacity by 2030 to meet the goals of the Paris Agreement.
Egypt’s favorable geographic location and available land make it suitable for producing significant electricity from renewable sources.
Masdar has been expanding its presence in Africa, becoming one of the significant renewables operators on the continent in partnership with Infinity Power.
Earlier in the year, Masdar signed agreements with Angola, Uganda, and Zambia to develop renewable energy projects with a combined capacity of up to 5 GW to help African nations make the energy transition.
In April, Masdar reached financial close on three solar photovoltaic projects in Uzbekistan. The projects will be a part of the largest solar development program in the area, with a total capacity of approximately 900 MW, and will start construction shortly.