Egypt-UAE Consortium Signs $10B Agreement For 10GW Wind Project

May 15, 2024


A consortium including Infinity Power, Africa’s largest renewable energy developer, Hassan Allam Utilities, and Masdar, the UAE’s flagship renewable energy company, signed a $10 billion Land Access Agreement with the Egyptian Government for their 10GW capacity onshore wind farm.

$10 billion Land Access Agreement

The agreement grants the consortium access to a 3025 km2 land area in West Suhag, enabling them to conduct essential development studies for the project, according to a statement released on May 13. These studies, including resource measurement campaigns, geotechnical and topographic surveys, and environmental assessments, aim to minimize environmental impact. The results will be crucial for advancing towards construction.

The wind farm is projected to generate 47,790 GWh of clean energy annually, reducing approximately 9% of Egypt’s yearly carbon emissions by displacing 23.8 million tonnes of carbon dioxide annually. This aligns with Egypt’s strategic goal of obtaining 42% of its energy from renewables by 2030.

According to the statement, the 10 GW wind farm is expected to save the country approximately $5 billion in natural gas costs annually.

The initial project agreement to develop the 10 GW wind farm was signed between the consortium and the Egyptian Electricity Transmission Company (EETC) and witnessed by the presidents of the UAE and Egypt on the sidelines of the UN climate change conference, COP27 in late 2022.

The agreement was signed by Mohamed Ismail Mansour, chairman of Infinity Power, Karim Hefzy, chief operating officer at Hassan Allam Utilities, and Mohamed Asaad Taher, senior manager of Business Development and Investment at Masdar. The signing was witnessed by Egypt’s Prime Minister, Moustafa Madbouly, and Egypt’s Minister of Electricity and Renewable Energy, Mohamed Shaker.

“Masdar’s CEO Mohamed Jameel Al Ramahi emphasized the significance of this landmark project, stating, “At 10GW, this project is pushing the boundaries of innovation and scale as we strive to unlock Africa’s clean energy potential and further advance its energy transition.”

Meanwhile, Amr Allam, co-CEO of Hassan Allam Holding, highlighted the consortium’s commitment to clean energy and environmental responsibility, emphasizing the positive impact the agreement will have on Egypt’s energy landscape and beyond.

Further, Infinity Power’s Mansour expressed enthusiasm for advancing to the next phase of the 10GW wind farm development in Egypt. He emphasized the project’s significant benefits, including job creation, community investment, and the transformative impact of clean, affordable energy on Egypt’s economy and environment.