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Egypt allocates land for establishing $10B wind energy project

This project is a collaboration between an alliance that includes Abu Dhabi Future Energy Company - Masdar, Hassan Allam Utilities Company, and Infinity Power Company.

By: Business Today staff

Wed, May. 15, 2024

Egypt witnessed the signing ceremony for allocating the land to implement a project to build a 10-gigawatt wind energy power station west of Sohag, with direct foreign investments exceeding $10 billion.

This project is a collaboration between an alliance that includes Abu Dhabi Future Energy Company - Masdar, Hassan Allam Utilities Company, and Infinity Power Company.

This came within the framework of the memorandum of understanding signed between the alliance, the Egyptian Electricity Transmission Company, and the New and Renewable Energy Authority during the COP27 conference in Sharm El Sheikh in November 2022.

The signing ceremony was in the presence of Prime Minister, Mostafa Madbouly.

This 10 GW wind energy project is considered the largest of its kind in the Middle East and is among the largest onshore wind energy projects in the world, the Minister of Electricity and Renewable Energy, Mohamed Shaker, said.

 Upon completion, the project will produce approximately 48,000 GWh of clean energy annually. This will contribute to avoiding the emission of around 23.8 million tons of carbon dioxide.

The project is also expected to provide about 23,000 direct and indirect job opportunities during both the implementation and operational phases.

Minister Shaker confirmed that this project came within the scope of Egypt's energy strategy to achieve 42% of the energy mix from renewables by 2030.