The Financial Tribune reports that Abu Dhabi Future Energy Company PJSC – Masdar, Infinity Power, and Hassan Allam Utilities have all signed an agreement with Egypt’s New and Renewable Energy Authority to obtain land to build a 10 GW capacity onshore wind farm in Egypt, set to be the largest wind farm in Africa and one of the largest in the world with a project value of over $10 billion.
The wind project, which will produce 47 790 GWh of clean energy yearly, is expected to cut the country's CO2 emissions by 23,8 million tonnes a year. In addition to reducing emissions, this wind farm will also help Egypt meet the country’s objective of sourcing 42% of its energy from renewable sources by 2030.
The 10 GW plant is estimated to save the North African nation $5 billion in natural gas costs a year.
The original agreement to develop the wind farm was signed between Masdar, Hassan Allam Utilities and Infinity Power, and the Egyptian Electricity Transmission Company in the presence of presidents of the UAE and Egypt at the UN climate change conference – COP27 – held in Sharm El Sheikh, Egypt, last year.