Masdar Joins Forces For Egypt's 10GW Wind Farm In Landmark Agreement

Abu Dhabi Future Energy Company PJSC – Masdar, along with Infinity Power and Hassan Allam Utilities, has signed a Land Access Agreement with the Egyptian Government for a 10GW onshore wind farm in Egypt. This project, valued at over US$10 billion, will be one of the largest wind farms globally.

The agreement grants the consortium access to a 3025 km² area in West Suhag. This will facilitate necessary development studies, including resource measurement campaigns, geotechnical and topographic surveys, and environmental studies to ensure minimal impact.

These studies are crucial for advancing the project towards construction. Once underway, the wind farm is expected to provide significant benefits to local communities through job creation, community support initiatives, and environmental protection.

The wind farm will generate 47,790 GWh of clean energy annually, reducing Egypt’s carbon emissions by approximately 9 percent by displacing 23.8 million tonnes of carbon dioxide each year. It will also help Egypt achieve its goal of sourcing 42 percent of its energy from renewables by 2030.

Additionally, the project is projected to save Egypt around US$5 billion annually in natural gas costs. This substantial economic benefit underscores the importance of renewable energy investments for the country's future.

Key Signatories and Witnesses

The agreement was witnessed by Egypt’s Prime Minister Moustafa Madbouly and Dr. Mohamed Shaker, Minister of Electricity and Renewable Energy. It was signed by Mohamed Ismail Mansour, Chairman of Infinity Power; Karim Hefzy, COO at Hassan Allam Utilities; and Dr. Mohamed Asaad Taher from Masdar.

Statements from Key Stakeholders

Masdar’s CEO Mohamed Jameel Al Ramahi remarked on the significance of this milestone for Egypt's renewable energy ambitions. He highlighted the project's role in unlocking Africa’s clean energy potential and advancing its energy transition.

Amr Allam, Co-CEO of Hassan Allam Holding, emphasized the project's importance for a sustainable future in Egypt. He noted that this initiative demonstrates their commitment to clean energy and environmental responsibility.

Mohamed Ismail Mansour, Chairman of Infinity Power, expressed enthusiasm about progressing to the next development phase. He pointed out the project's benefits during construction and operation, including job creation and community investment.

Nayer Fouad, CEO of Infinity Power, highlighted the project's ambition and significance for Egypt and the wider region. He stressed that bold targets can enable countries to adopt renewable energy and transform their energy mix.

Historical Context

The initial agreement for developing the 10GW wind farm was signed between the consortium and the Egyptian Electricity Transmission Company. This took place during COP27 in late 2022, witnessed by the Presidents of the UAE and Egypt.

This landmark project represents a significant step forward in Egypt's renewable energy journey. The collaboration between Masdar, Infinity Power, and Hassan Allam Utilities underscores a shared commitment to sustainable development and environmental stewardship.

With inputs from WAM