The onshore wind farm in Egypt has investments over $10 billion
Egypt's New and Renewable Energy Authority signed an agreement with Abu Dhabi Future Energy Company PJSC (Masdar) and Hassan Allam Utilities to secure land to build a 10-gigawatt (GW) capacity onshore wind farm in Egypt, with investments over $10 billion.
The wind farm 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 tonnes of carbon dioxide annually. The 10 GW plant will save Egypt almost $5 billion in natural gas costs a year, according to the statement.
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 COP27.
The wind farm comes in line with Egypt’s objective to boost reliance on renewably energy to account for 42% of its total electricity needs by 2030, and increase the share of renewable energy capacity to 60% by 2040.
