Skip to content Skip to Search
Skip navigation

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

WAM
The wind farm will save Egypt an estimated $5 billion in annual natural gas costs

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. 

Latest articles

AlAbraaj has several franchises in Saudi Arabia, including Mezza-W-Mashawi at Riyadh's King Khalid airport

Restaurant chain AlAbraaj plans IPO on Bahrain Bourse

AlAbraaj Restaurants Group is planning to list on Bahrain Bourse before the end of 2024. Founded in 1987, the restaurant chain manages 15 brands across 37 locations in Bahrain. It employs about 1,200 people. AlAbraaj also franchises five restaurants, three of which are in Saudi Arabia – Khobar, Jeddah and Riyadh. The company is finalising […]

DP World Australia operates four container ports and is taking on more than 40 Silk Logistics sites

DP World to acquire Australia’s Silk Logistics

DP World Australia has announced plans to acquire the freight and logistics service provider Silk Logistics Holdings, in a deal worth A$174.5 million ($114.9 million). The Australian subsidiary of Dubai’s DP World will buy Silk Logistics at a price of A$2.14 ($1.40) per share.  The transaction is subject to shareholder approval and regulatory approvals, and is […]

A Talabat delivery driver in Doha, Qatar

Talabat focusing on core markets ahead of listing, says CFO

Food delivery app Talabat aims to prioritise organic growth over geographical expansion, its chief financial officer says, as it prepares to launch one of the region’s largest listings. Delivery Hero, the German parent company of the UAE-headquartered app, announced on Monday that it plans to sell a 15 percent stake in Talabat.  The initial public […]

Fertiglobe dropped to a loss in Q3 after its own-produced sales volumes fell

Fertiglobe logs net loss, weeks after Adnoc buys stake

Fertiliser maker Fertiglobe has reported a net loss of $10.4 million for the third quarter of 2024 – a sharp drop from the $39.6 million profit generated in the same period last year. The Abu Dhabi company’s revenue in Q3 2024 fell to $495.6 million versus $525 million in Q3 2023. Analysts had estimated a […]