Skip to content Skip to Search
Skip navigation

UAE-led consortium secures land for $10bn wind farm in Egypt

Company executives sign the land access agreement in the presence of Egypt’s prime minister Moustafa Madbouly and electricity and renewable energy minister Mohamed Shaker

A consortium led by Masdar, the UAE’s state-owned renewable energy company, has signed a land access agreement with the Egyptian government for a $10 billion onshore wind farm.

The other partners are Infinity Power, a joint venture between Masdar and Egyptian renewables business Infinity, and Hassan Allam Utilities, a Cairo-based developer and investor.

The agreement will give the consortium access to a 3,025 sq km area in West Suhag, allowing it to conduct the necessary development studies to progress the 10 gigawatts (GW) project.

The studies include resource measurement campaigns, geotechnical and topographic surveys, and environmental studies to ensure minimal environmental impact.

The findings will be vital in progressing towards construction.  

The wind project will produce 47,790 GWh of clean energy per year and cut around 9 percent of Egypt’s annual carbon emissions by displacing nearly 24 million tonnes of carbon dioxide annually. 

The wind farm will help Egypt meet its objective of sourcing 42 percent of its energy from renewables by 2030. 

The project will save the country an estimated $5 billion in natural gas costs annually.

“At 10 GW, this project is pushing the limits of innovation and scale as we work to help unlock Africa’s clean energy potential and further advance its energy transition,” said Masdar CEO Mohamed Jameel Al Ramahi.

The initial project agreement to develop the 10 GW wind farm was signed between the consortium and the state-backed Egyptian Electricity Transmission Company in late 2022 on the sidelines of the UN climate change conference (Cop27).

Latest articles

Investment app Sarwa had more than 180,000 registered users by the first quarter of 2023

Investment app Sarwa fined by Dubai and Abu Dhabi regulators

Investment platform Sarwa Digital Wealth has been fined AED1,151,000 ($313,500) by regulators in Dubai and Abu Dhabi for offering shares and securities without an approved prospectus. The Dubai Financial Services Authority (DFSA) said on Tuesday that it had imposed a penalty of AED701,815 on the fintech.  On the same day, the Financial Services Regulatory Authority […]

UK Prime Minister Rishi Sunak said the pledge ' sets a precedent for global standards on AI safety'

UAE joins AI safety pledge at UK-South Korea summit

Two artificial intelligence companies from the UAE have signed up to a new AI safety pledge and have committed to safe development of the technology. Abu Dhabi’s Technology Innovation Institute and G42 are among 16 names on the safety pledge that also includes Amazon, Google, IBM, Meta, Microsoft, OpenAI and Samsung. The announcement was made […]

Turkey FAB Yapi Kredi

First Abu Dhabi Bank targets Turkish lender

One of Turkey’s largest corporations has confirmed it is in talks with First Abu Dhabi Bank (FAB) over the sale of a majority holding in the Istanbul-headquartered lender Yapı Kredi, the country’s fourth largest private bank in terms of assets.  A report by Reuters on May 21 said sources told it FAB was offering around […]

Dhahran is home to the King Abdulaziz Center for World Culture. Retal will build almost 2,000 homes in the city

Retal wins $770m contract to build in Dhahran

The Saudi builder Retal has signed a SAR2.9 billion ($770 million) contract to design and build nearly 2,000 residential units in Dhahran, Eastern Province, for the giga-project developer Roshn.  Retal “will develop and design the detailed master plan, design and execute the infrastructure, landscape, construct 1,962 residential units and public amenities building in Aldanah project,” […]