UAE, Egypt ink deal to develop Africa’s largest wind farm, project valued at $10bn

UAE, Egypt ink deal to develop Africa’s largest wind farm, project valued at $10bn

Abu Dhabi Future Energy Company (Masdar), Infinity Power (Masdar’s joint venture with Egypt’s Infinity) and Hassan Allam Utilities (a sustainable infrastructure-focused investment platform) have signed an agreement with Egypt’s New and Renewable Energy Authority to secure land to build a 10-gigawatt (GW) capacity onshore wind farm in Egypt. The wind farm is set to be one of the largest of its kind in Africa, with a project value of more than $10bn. The key wind project will produce 47,790GWh of clean energy per year and reduce around 9 per cent of Egypt’s annual carbon emissions by displacing 23.8 million tonnes of carbon dioxide annually. The wind farm will also help Egypt meet its strategic objective of sourcing 42 per cent of its energy from renewables by 2030. The 10GW plant will save Egypt an estimated $5bn in natural gas costs a year. The original agreement to develop the 1GW wind farm was signed between Masdar, Hassan Allam Utilities, Infinity Power and the Egyptian Electricity Transmission company and witnessed by the presidents of the UAE and Egypt on the sidelines of the UN climate change conference, COP27, in Sharm El Sheikh, Egypt last year. The project is being developed by the