On the sidelines of the United Nations Conference on Climate Change (COP27) of 2022 in Sharm El-Sheikh, the Memorandum of Understanding was signed between the United Arab Emirates and the Arab Republic of Egypt, respectively represented by the Minister of Industry and of the UAE Advanced Technology (Dr Sultan Ahmed Al Jaber) and Egypt's Minister of Electricity and Renewable Energy (Dr Mohamed Shaker El-Markabi). The agreement has as its purpose the development of a wind project Onshore of 10 gigawatts (GW) in Egypt and the construction of one of the largest wind farms in the world.
The intent of this 10 GW mega onshore wind project - one of the largest wind farms in the world - is a testament to the renewable energy ambitions of the United Arab Emirates and the Republic of Egypt.
The project will be led by the company Masdar (Emirates), engaged in the renewable energy market.
Once completed, the 10 GW wind farm will produce 47.790 GWh of clean energy per year and offset 23,8 million tonnes of carbon dioxide emissions, equivalent to approximately 9% of Egypt's current CO2 emissions.
The project will be part of the initiative Green Corridor of Egypt - a network dedicated to renewable energy projects - and will contribute to Egypt's goal of ensuring that renewable energy accounts for 42% of its energy mix by 2035. The wind farm will also save the Egypt approximately $ 5 billion in annual natural gas costs and will help create up to 100.000 jobs. Direct employment in the construction phase is estimated at around 30.000, with as many as 70.000 indirectly employed. After construction, approximately 3.200 jobs will be added for operation and maintenance.
Mohamed Jameel Al Ramahi, CEO of Masdar, finally stated: "With this agreement to develop our largest project ever, Masdar is proud to strengthen our contribution to Egypt's renewable energy goals, while strengthening our partnerships with Egyptian companies Infinity Power and Hassan Allam Utilities. We are confident that this project will help provide clean and sustainable energy to the Egyptian people, while ensuring that the country respects its decarbonisation commitments ".