Masdar and Infinity are set to create a 10-gigawatt onshore wind project in Egypt. The project will be one of the largest windfarms in the world.
President His Highness Sheikh Mohamed bin Zayed Al Nahyan and President Abdel Fattah El Sisi of Egypt were present for the signing of a Memorandum of Understanding (MoU) between Masdar, one of the world’s fastest-growing renewable energy companies, along with its Infinity Power joint venture with Infinity, Egypt’s main renewable energy developer, and Hassan Allam Utilities to develop a 10-gigawatt (GW) onshore wind project in Egypt. The project will be one of the largest in the world.
MoU signed at COP27
The Memorandum of Understanding was signed by Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, UAE Special Envoy for Climate, and Chairman of Masdar, and Dr. Mohamed Shaker El-Markabi, Egypt’s Minister of Electricity and Renewable Energy, on the sidelines of the 2022 United Nations Climate Change Conference (COP27) in Sharm El-Sheikh.
Masdar and Infinity’s 10 GW project
Dr. Al Jaber said, “The scale of this mega 10 GW onshore wind project – one of the largest winds farms in the world – is a testament to the renewable energy ambitions of the United Arab Emirates and the Republic of Egypt, and demonstrates Masdar’s status as a global leader in clean energy.
“Under the guidance of our leadership, the UAE has been at the forefront of positive climate action in the region – and globally, as reflected in the recent US-UAE Partnership for Accelerating Clean Energy (PACE). The UAE and Masdar will continue to support Egypt’s net-zero goals, and we will endeavor to take forward the gains made here at COP27, as the UAE prepares to host COP28 next year.”
The project aims to create 47,790 GWh of clean energy annually and will offset 23.8 million tons of carbon dioxide emissions, equivalent to approximately 9% of Egypt’s current CO2 emissions. The development forms part of Egypt’s Green Corridor initiative which comprises a grid dedicated to renewable energy and will support Egypt’s goal of having 42% of its energy derived from renewables by 2035. The wind farm will also save Egypt USD 5 billion in annual natural gas costs and has been predicted to create up to 100,000 jobs.
Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said, “With this agreement to develop our largest ever project, Masdar is proud to bolster our contribution to Egypt’s renewable energy goals, while strengthening our partnerships with Infinity Power and Hassan Allam Utilities, and building on our relationship with the Egyptian Government. We are confident this project will help provide clean and sustainable energy to Egypt’s people while ensuring the country meets its decarbonisation commitments.”
Mohamed Ismail Mansour, Chairman – Infinity Power, said, “We are proud to be working on this project in association with our partners, enabling the Egyptian government to build upon their efforts to deploy effective solutions that confront the global issue of climate change. The project will enable the country to save vast amounts of natural gas; thereby attaining economic growth, reduce carbon emissions and provide greater access to sustainable energy sources, enabling Egypt to move forward in its journey towards becoming a green economy.”
In April, Masdar and Hassan Allam Utilities signed two MoUs with Egyptian state-backed organizations to cooperate on the development of 4 GW green hydrogen production plants in the Suez Canal Economic Zone and on the Mediterranean coast.
In the first phase of the project, a green hydrogen manufacturing facility will be operational by 2026, and will produce 100,000 tons of e-methanol annually that will be bunkered in the Suez Canal. The electrolyzer facilities could be extended to up to 4 GW by 2030 to produce 2.3 million tons of green ammonia for export as well as supplying green hydrogen for local industries.
Investors have signed agreements to spend a total of USD 42 billion on Egyptian green hydrogen projects.