UAE and Egypt Agree To Build Wind Farms

The presidents of the United Arab Emirates, UAE, and Egypt witnessed the signing of an agreement to develop one of the world’s largest onshore wind projects in Egypt.

Report says the Memorandum of Understanding was signed between the UAE’s renewable energy firm Masdar alongside its joint venture with Egypt’s main renewable energy developer Infinity and Hassan Allam Utilities.

“With this agreement to develop our largest ever project, Masdar is proud to bolster our contribution to Egypt’s renewable energy goals,” Masdar’s CEO, Mohamed Jameel al-Ramahi said.

The country’s renewable energy authority said in an annual report that wind projects would save Egypt an estimated $5 billion in annual natural gas costs, the statement said. Egypt’s total installed power capacity was around 59.5 GW in 2019/2020.

“The project will enable the country to save vast amounts of natural gas; thereby attaining economic growth, reducing carbon emissions, and providing greater access to sustainable energy sources,” the chairman of Infinity Power, Mohamed Mansour said.

Report says when completed, the wind farm would be part of Egypt’s Green Corridor initiative, a grid dedicated to renewable energy projects that are aimed at ensuring renewable energy makes up 42% of the country’s energy mix by 2035.

REUTERS/CO