Wind

Ten billion dollars and 10GW: Africa's largest onshore wind farm seals land deal

Masdar and partners sign agreement over massive project in Egypt

The signing of the agreement for the 10GW project's land.
The signing of the agreement for the 10GW project's land.Foto: Masdar

UAE green energy developer Masdar and partners cemented plans for a 10GW onshore wind farm in Egypt that would be Africa’s largest and one of the biggest planned in the world.

Masdar, Infinity Power and Hassam Allam Utilities signed a land agreement for the $10bn project, witnessed by Egyptian Prime Minister Mostafa Madbouly and CEOs from all three companies. plus Sultan Ahmed Al Jaber, Masdar's chairman and the president-designate of the COP28 climate summit.

Plans for the mega-project, first unveiled at the COP27 Summit last year, will enable Egypt to hit its 42% share target for renewable power by 2030 and save the nation $5bn in gas costs a year, claimed the partners.

Egypt boasts regions with excellent wind resources and is the target of some of the world’s most ambitious renewables and green hydrogen plans.

Masdar has already signed a memorandum of understanding over construction of a potential 4GW of green hydrogen production plants in the Suez Canal Economic Zone and on the Mediterranean coast,

Australian billionaire Andrew Forrest in September 2022 unveiled plans for his company Fortescue Future Industries to build a 9.2GW renewables project to produce green hydrogen and ammonia in the nation.

Egyptian energy minister Mohamed Shaker claimed the 10GW wind farm would boost Egypt’s credentials as a potential exporter of green energy to Europe.

(Copyright)
Published 7 June 2023, 09:52Updated 7 June 2023, 09:52
MasdarEgyptMiddle East & Africa