"Masdar, one of the world’s leading clean energy companies, along with Infinity
Power, Africa’s largest renewable energy developer, 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 GW capacity onshore wind farm in Egypt, set to be one of the largest
in the world, with a project value of over US$10 billion.
The signing in Cairo was witnessed by Egyptian Prime Minister, Moustafa
Madbouly, Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology,
Dr Mohamed Shaker El-Markabi, Minister for Electricity and Renewable Energy,
Mohamed Jameel Al Ramahi, CEO of Masdar, Nayer Fouad, CEO of Infinity Power,
and Hassan and Amr Allam, CEO of Hassan Allam Holding.
The landmark wind project will produce 47 790 GWh of clean energy per year and
reduce around 9% of Egypt’s annual carbon emissions by displacing 23.8 million
tpy of carbon dioxide. The wind farm will also help Egypt meet its strategic
objective of sourcing 42% of its energy from renewables by 2030. The 10 GW
plant will save the North African nation an estimated US$5 billion in natural
gas costs a year.
The original agreement to develop the 10 GW wind farm was signed between
Masdar, Hassan Allam Utilities and 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.
As the UAE’s flagship renewable energy company, Masdar’s role demonstrates its
deep and lasting commitment towards supporting African nations such as Egypt to
meet their ambitious renewable energy objectives. The project is being
developed by the consortium led by Masdar and its partners: Infinity Power,
Masdar’s joint venture with Egypt’s Infinity, which is Africa’s largest pure
play renewable power company; and Hassan Allam Utilities, a sustainable
infrastructure focused investment platform."
Via Future Crunch
*** Xanni ***
Chief Scientist, Xanadu
Partner, Glass Wings
Manager, Serious Cybernetics