Egypt, UAE Ink $10 Bln Deal to Build 10-Gigawatt Onshore Wind Farm

On Tuesday, Egypt signed an agreement with Emirati clean energy company Masdar to launch a wind power plant in Sohag with direct investments of $10 billion.

The plant will be built by Masdar, the Egyptian renewable energy firm Infinity Power, and the construction giant Hassan Allam Utilities.

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 per cent of its energy from renewables by 2030. The 10GW plant will save the North African nation an estimated $5 billion in natural gas costs a year.

The original agreement to develop the 10GW 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.