Egypt and the United Arab Emirates ( UAE) signed a memorandum of understanding (MoU) to establish a wind power plant with a capacity of 10,000 megawatts.
President Abdel Fattah Al-Sisi and Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE attended the ceremony of signing the MoU on the sidelines of the activities of the Cop27 climate conference.
The newly planned power plant will be a part of the state’s plan to expand electricity generation projects from renewable energy to exploit the huge areas that can be used in this area.
An official source at the Ministry of Electricity and Renewable Energy revealed that the MoU aims to expand renewable energy projects and create a mixture of clean energy to preserve the environment and contribute to reducing electricity production costs in Egypt. Consequently, the selling price to the citizen will decrease shortly.
The source pointed out that the investment cost of this project amounts to about $8 billion.
He explained that this project is expected to provide more than 11,000 job opportunities for Egyptians during the construction work.
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