- | 11:30 am
Egypt to build $11 billion worth wind project to power Europe and Saudi Arabia
The construction of one of the world's largest wind farms in Egypt is set to start in 2024
One of the biggest wind farms in the world will be operational by 2030 in Egypt. The $11 billion wind farm project—being developed by a group led by Masdar and Infinity Power Holdings—both owned by Abu Dhabi, could supply electricity to Saudi Arabia and Europe.
According to Infinity Power, the construction is scheduled to start in 2024. By 2030, the project will be operational and have a 10-gigawatt production capacity, according to Mohamed Mansour, chairman of Infinity Power.
Mansour added that the group, which also includes Hassan Allam Utilities of Egypt, plans to secure land for the project this year in the Western Desert of the country of North Africa, one close to Minya and the other near Aswan. He said that these locations are ideal for such a project because of the potential for 10 meters per second winds in these areas.
Egypt and the UAE signed a memorandum of understanding to construct this wind power project during the UN Climate Change Summit to transform the nation into a regional electricity hub.
Egypt ranked first among Arab nations in wind and solar energy production in July, with a capacity of 3.5 gigawatts, and plans to reach 6.8 gigawatts in 2024, according to the Information and Decision Support Center of the Egyptian Cabinet.
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