UAE and Egypt presidents witness the signing of an agreement for one.
The Wind farms project would be Masdar’s largest one yet, according to the company, which has a portfolio of renewable energy assets with a combined value of more than $20 billion and a total capacity of more than 15 GW.
The 10 GW farm would generate 47,790 GWh of clean energy per year while reducing 23.8 million tonnes of carbon dioxide emissions, or around 9% of Egypt’s current CO2 emissions.
Masdar CEO Mohamed Jameel al-Ramahi stated, “With this agreement to create our largest-ever project, Masdar is happy to boost our commitment to Egypt’s renewable energy aspirations.
On the fringes of the ongoing COP27 climate meeting in the Egyptian seaside city of Sharm El-Sheikh, Masdar Chairman Sultan al-Jaber, who is also the UAE’s special climate envoy, its industry minister, and the head of state energy company Adnoc, signed the deal on Tuesday.
As the UAE gets ready to host COP28 next year, Jaber said in the statement, “The UAE and Masdar will continue to assist Egypt’s net-zero targets and we will attempt to push forward the advances established here at COP27.”
Wind Farms Will be a Component of Egypt’s Green Corridor Plan
When finished, the wind farms will be a component of Egypt‘s Green Corridor plan, a system devoted to renewable energy projects that aims to have 42% of the nation’s energy mix from renewable sources by 2035.
Egypt will save $5 billion annually on natural gas expenditures thanks to the wind farms project. According to a yearly report from Egypt’s renewable energy authority, the country’s installed electricity capacity was around 59.5 GW in 2019/2020.
According to Mohamed Mansour, the chairman of Infinity Power, the joint venture between Masdar and Infinity, “the project will enable the country to save vast amounts of natural gas; thereby attaining economic growth, reducing carbon emissions, and providing greater access to sustainable energy sources.”
In order to collaborate on the construction of 4 GW green hydrogen production facilities in the Suez Canal Economic Zone and along the Mediterranean coast, Masdar and Hassan Allam Utilities signed two memoranda of understanding in April with state-backed organizations in Egypt.
A green hydrogen production plant capable of producing 100,000 tonnes of e-methanol yearly for bunkering in the Suez Canal will build as part of the project’s first phase and operation by 2026, according to the statement.
According to the report, the electrolyzer facilities may be increased to a maximum of 4 GW by 2030, producing 2.3 million tonnes of green ammonia for export in addition to supplying green hydrogen to nearby companies.
 and Egypt witnessed the signing of an agreement on Tuesday to create one of the largest wind farms projects in the world){kind=link}