In a major COP27 move, Masdar has signed up to develop a 10 GW onshore wind project in Egypt, said to be one of the largest such plans in the world.
Masdar chairman Sultan Al Jaber signed the deal with Egypt Minister of Electricity and Renewable Energy Mohamed Shaker El-Markabi. The two signed on the sidelines of COP27.
United Arab Emirate President Mohamed bin Zayed Al Nahyan and Egypt President Abdel Fattah El Sisi witnessed the signing.
Masdar will join up with its Infinity Power joint venture and Hassan Allam Utilities to develop the project.
“The scale of this mega 10 GW onshore wind project – one of the largest winds farms in the world – is a testament to the renewable energy ambitions of the United Arab Emirates and the Republic of Egypt, and demonstrates Masdar’s status as a global leader in clean energy,” said Al Jaber.
He went on to say the UAE and Masdar would continue supporting Egypt’s net zero goals. The UAE will host COP28 next year.
Al Jaber, speaking last week at Adipec, called on the world to maximise its energy production, while minimising emissions.
The new project would be part of Egypt’s Green Corridor plan. This aims to generate 42% of Egypt’s power needs from renewable energy by 2035.
Local benefits
Construction will require around 30,000 workers, with another 70,000 jobs created indirectly. During operations, the project will provide around 3,200 jobs.
Masdar CEO Mohamed Jameel Al Ramahi said the agreement would strengthen “our partnerships with Infinity Power and Hassan Allam Utilities”.
“We are confident this project will help provide clean and sustainable energy to Egypt’s people while ensuring the country meets its decarbonisation commitments.”
Infinity Power chairman Mohamed Ismail Mansour said the project would tackle climate change and reduce domestic gas consumption. It will drive “economic growth, reduce carbon emissions and provide greater access to sustainable energy sources, enabling Egypt to move forward in its journey towards becoming a green economy”.
Masdar and Hassan Allam signed deals in April on the development of 4 GW of green hydrogen plants. These will be in the Suez Canal Economic Zone and on the Mediterranean.