UAE’s Masdar to develop onshore wind farm project in Egypt

WAM

UAE’s renewable energy firm Masdar has signed an agreement with its Egyptian partners to develop a 10-gigawatt (GW) onshore wind farm project in Egypt, the UAE state-owned WAM news agency reported.

The partners include Infinity Power Holding, a joint venture between Masdar and Egyptian renewable energy developer Infinity, and Hassan Allam Utilities.

UAE President Sheikh Mohamed bin Zayed Al Nahyan and Egypt President Abdel Fattah El Sisi were present during the agreement signing ceremony.

The wind farm will produce 47,790 GWh of clean energy annually and offset 23.8 million tonnes of carbon dioxide emissions, equivalent to around nine percent of Egypt’s current CO2 emissions when complete.

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 percent of its energy mix by 2035.

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.

Direct employment in the construction phase is estimated at around 30,000, with as many as 70,000 people employed indirectly.

After construction, around 3,200 jobs will be added for operation and maintenance.

In April, Masdar and Hassan Allam Utilities signed two memoranda of understanding with Egyptian state-backed organisations to cooperate on developing 4 GW green hydrogen production plants in the Suez Canal Economic Zone and on the Mediterranean coast.

In the project’s first phase, a green hydrogen manufacturing facility will be developed and operational by 2026, producing 100,000 tonnes of e-methanol annually for bunkering in the Suez Canal.

The electrolyzer facilities could be extended up to 4 GW by 2030 to produce 2.3 million tonnes of green ammonia for export and supply green hydrogen for local industries.

Active in more than 40 countries worldwide, Masdar has a portfolio of renewable energy assets with a combined value of more than $20 billion and a total capacity of more than 15 GW.

UAE will host Cop28 from November 6 to 17, 2023.