Agreement signed for securing land to develop 10 GW Wind project in Egypt
Masdar has collaborated with Infinity Power and Hassan Allam Utilities to acquire land for a 10 GW onshore wind project in Egypt. With an investment value exceeding US$10 billion, the wind farm will be one of the largest in the world and will reduce around 9% of Egypt's annual carbon emissions by displacing 23.8 million tonnes of CO2 annually.
The project will generate 47,790 GWh of clean energy per year and enable Egypt to meet its strategic objective of sourcing 42% of its energy from renewables by 2030. This will save the North African nation around US$5 billion in natural gas costs every year as the 10 GW plant will help to reduce dependence on fossil fuels.
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.
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