Prime Minister Mostafa Madbouli attended Tuesday evening the signing of an agreement between the Ministry of Electricity and Renewable Energy and the Abu Dhabi Future Energy Company (Masdar) to allocate a land plot for the establishment of a $10-billion wind farm whose capacity will be 10 gigawatts, making it the world’s largest.
Masdar will operate within a consortium that includes Infinity Power and Hassan Allam Utilities. The project is estimated to save $5 billion in natural gas costs per annum, and reduce carbon emissions by 23.8 million tons, which is nine percent of Egypt’s annual emissions.
The farm will produce 47,790 GWh of clean energy every year contributing in Egyptian efforts aimed at making the share of renewables in the energy mix 42 percent by 2035.
The initial agreement was signed on the sidelines of COP 27 held in Sharm El Sheikh in November, so as the signing was attended by President Abdel Fatah al-Sisi and Emirati counterpart Sheikh Mohamed Bin Zayed.
source/content: egypttoday.com (headline edited)
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UNITED ARAB EMIRATES (U.A.E) / EGYPT
