The presidents of the UAE and Egypt signed an agreement to develop one of the world’s largest onshore wind projects in Egypt on the sidelines of the climate summit in Sharm el-Sheikh.
The agreement between the renewable energy firm Masdar with Egypt’s main renewable energy developer Infinity and Hassan Allam Utilities was signed in the presence of the presidents of the UAE and Egypt.
According to WAM, the 10-gigawatt (GW) onshore wind project in Egypt would eventually generate 47,790 GWh of clean energy annually and offset 23.8 million tonnes of carbon dioxide emissions, which is equivalent to about 9% of Egypt’s current CO2 production.
When operational, the wind farm will be a component of Egypt’s Green Corridor plan, a grid devoted to renewable energy projects that aims to have 42% of the nation’s energy mix from renewable sources by 2035.
According to the statement, Egypt will save $5 billion annually on natural gas expenditures thanks to the wind project.
“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,” Mohamed Mansour, the chairman of Infinity Power, the Masdar and Infinity joint venture, said in the statement.
Fast Company’s World Changing Ideas comes to the Middle East on 23 November 2022. Click here to know more.
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