Abu Dhabi Future Energy Company PJSC – Masdar, UAE along with Infinity Power and Hassan Allam Utilities signed an agreement with Egypt’s New and Renewable Energy Authority to secure land to build a 10-gigawatt (GW) capacity onshore wind farm in Egypt, set to be one of the largest in the world, with a project value of over US$ 10 billion.
The signing in Cairo was witnessed by Egyptian Prime Minister, HE Moustafa Madbouly, HE Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, HE Dr Mohamed Shaker El-Markabi, Minister for Electricity and Renewable Energy, Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, Nayer Fouad, Chief Executive Officer of Infinity Power, and Hassan and Amr Allam, Chief Executive Officers of Hassan Allam Holding.
The landmark wind project will produce 47,790 GWh of clean energy per year and reduce around 9 percent of Egypt’s annual carbon emissions by displacing 23.8 million tonnes of carbon dioxide annually. The wind farm will also help Egypt meet its strategic objective of sourcing 42 percent of its energy from renewables by 2030. The 10 GW plant will save the North African nation an estimated US$ 5 billion in natural gas costs a year.
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 the UN climate change conference, COP27, in Sharm El Sheikh, Egypt last year.
As the UAE’s flagship renewable energy company, Masdar’s role demonstrates its deep and lasting commitment towards supporting African nations such as Egypt to meet their ambitious renewable energy objectives. The project is being developed by the consortium led by Masdar and its partners: Infinity Power, Masdar’s joint venture with Egypt’s Infinity, which is Africa’s largest pure play renewable power company; and Hassan Allam Utilities, a sustainable infrastructure focused investment platform.
In March, Masdar became the largest operator of renewables in Africa after its joint venture with Egypt’s Infinity – Infinity Power – acquired Lekela Power, a renewables developer with operations across the continent. Masdar also demonstrated its commitment to African nations by signing deals to develop renewable energy projects with a combined capacity of up to 5 GW in Angola, Uganda, and Zambia, in January.
Egypt is the Middle East and North Africa’s most populous country and has an abundance of renewable energy sources, including wind and solar. Masdar has a large presence in Egypt with projects dating back to 2015, which represents a starting point to target the African continent through Infinity Power platform.
During COP27 last year, Masdar, Infinity Power and Hassan Allam Utilities also signed agreements with Egyptian state-backed organizations to develop green hydrogen and derivatives’ production facilities. The consortium is targeting a capacity of 4 GW by 2030, and an output of up to 480,000 tonnes of green hydrogen per year.
