UAE and Egypt advance development of Africa’s largest wind farm

• UAE flagship renewable energy company Masdar signs land agreement for 10GW large-scale wind power project with Infinity Power and Hassan Allam Utilities
• Egyptian Prime Minister HE Moustafa Madbouly and HE Dr witnessed the signing sultan arjaberUAE Minister of Industry and Advanced Technology and Chairman of Masdar
• The project will reduce carbon emissions by 23.8 million tons per year – equivalent to 9% Egyptian current carbon footprint
• before the uae COP28a development that demonstrates the UAE’s commitment to supporting Egyptian Renewable Energy Target

Abu Dhabi, United Arab Emirates, June 6, 2023 /PRNewswire/ — Abu Dhabi Future Energy Company PJSC – one of the world’s leading clean energy companies Masdar and Infinity Power, African Hassan Allam Utilities, the largest renewable energy developer and sustainable infrastructure-focused investment platform, and Egyptian New and Renewable Energy Administration to Acquire Land to Build a 10-gigawatt (GW) Onshore Wind Farm in the United States Egyptwill be one of the largest projects in the world, with a project value exceeding $10 billion.

check in Cairo His Excellency Mustafa Madbouli, Prime Minister of Egypt, and Dr. Dr. Witnessed sultan arjaberUAE Minister of Industry and Advanced Technology HE Dr Mohamed Shaker El-MarkabiMinister of Electricity and Renewable Energy, Mohammad Jameel Al RamahhiCEO of Masdar, nelfuadCEO of Infinity Power, and Hassan and Amr Allam, CEO Hassan Alam Holdings.

This landmark wind project will generate 47,790 GWh of clean energy annually and reduce energy consumption by approximately 9%. Egyptian Reduce annual carbon emissions by displacing 23.8 million tons of carbon dioxide per year.Wind farms will also help Egypt Achieve the strategic goal of 42% of energy from renewable sources by 2030.The 10 GW plant is estimated to save the North African country $5 billion Gas costs for a year.

Masdar, Hassan Allam Utilities and Infinity Power have signed an original agreement with the Egyptian Electricity Transmission Company to develop a 10 GW wind farm to be developed by the UAE and Egypt During the United Nations Climate Change Conference, COP27exist sharm el sheikh, Egypt last year.

Masdar’s role as the UAE’s flagship renewable energy company demonstrates its deep and enduring commitment to supporting African countries, such as Egypt to achieve its ambitious renewable energy goals.The project is being developed by a consortium led by Masdar and its partners: Infinity Power, Masdar and Egyptian infinity, which is African the largest pure-play renewable energy company; and Hassan Allam Utilities, an investment platform focused on sustainable infrastructure.

Dr. He sultan arjaberUAE Minister of Industry and Advanced Technology, Masdar and COP28 The President-elect said: “This 10GW onshore wind project will be one of the largest wind farms in the world and one of the largest on the African continent. It marks a strong partnership between the UAE and the Egypt, with enormous potential to create jobs, reduce emissions and power homes with clean electricity at a competitive economic cost. The world needs to triple its renewable energy capacity by 2030 to meet the goals of the Paris Agreement. Such projects will support global efforts to reduce the impacts of climate change and help maintain the 1.5 ambition while achieving significant socio-economic growth.The UAE is looking forward to hosting COP28, we will continue to work shoulder to shoulder with the global South in its efforts to decarbonise and secure a just energy transition. “

Dr. He Mohamed Shaker Al-Markabiminister of electricity and renewable energy Egyptsaid: “Egypt has an ambitious plan to promote the development of the Egyptian power sector in various fields, the most important of which is to optimize the use of new and renewable energy and encourage investment in this field, which will help reduce reliance on fossil fuels and continue to reduce carbon emissions, in line with Egyptian An energy strategy to source up to 42% of our energy mix from renewable sources by 2030, while complementing the National Climate Strategy 2050 to meet the challenges of climate change and achieve sustainable economic growth. “

He added: “This project represents the continuation of the history and brotherhood between the Arab Republic and the Arab Republic. Egypt and the UAE, reflecting the fruitful and constructive cooperation between these two fraternal countries.Renewable Energy Egypt With the potential to attract foreign direct investment, Egyptian state entities play a vital role in creating an environment that supports low-risk investments and a high level of interaction with financial institutions and development partners. also, Egypt A comparative advantage in terms of the available land, which is necessary to produce large amounts of electricity from renewable resources. also, Egyptian Geographical location enables it to export green energy to Europe, especially as the country looks to further strengthen and improve the efficiency of the national grid. “

In March, Masdar became the country’s largest renewable energy operator Africa after the joint venture with Egyptian Infinity – Infinity Power – acquired Lekela Power, a renewable energy developer with operations across the continent. Masdar has also demonstrated its commitment to African countries by signing agreements to develop renewable energy projects with a total installed capacity of up to 5 GW. Angola, Ugandaand zambiain January.

Mohammad Jameel Al RamahhiMasdar CEO said: “Masdar is proud to work with global partners to maximize our Egypt In all areas of business and the economy, and to help address pressing global sustainability challenges and support global efforts to develop sustainable solutions to produce energy using the latest technologies at competitive minimum costs. This large-scale project that will change lives and livelihoods is the culmination of hard work, dedication and a committed partnership between Masdar, our joint venture Infinity Power and Hassan Allam Utilities. “

nelfuadThe CEO of Infinity Power said: “This project is a milestone achievement for our Infinity Power and it demonstrates the partnership between Masdar and Infinity Power as a leading investment platform in the renewable energy sector. It not only positions us as a leading renewable energy The renewable energy provider also strengthened the UAE’s Egypt. In addition to being a major source of renewable energy, the farm will create jobs for the local community. “

Amr Allam, Chief Executive Officer, Hassan Alam Holdings Said: “I am proud to witness the launch of our planned 10 GW of wind energy projects developed in partnership with Masdar and Infinity Power. Besides helping to meet Egyptian With growing energy demands, the project aligns seamlessly with the country’s sustainable development goals.We are confident that this partnership will achieve its goals and pave the way for a greener and more prosperous future Egypt“

Egypt Is middle East and North African The most populous country with an abundance of renewable energy, including wind and solar.masdar in Egypt The project dates back to 2015, which was the starting point for targeting the African continent with the Infinity Power platform.

period COP27 Last year, Masdar, Infinity Power and Hassan Allam Utilities also signed an agreement with an Egyptian state-backed organization to develop a production facility for green hydrogen and its derivatives. The consortium aims to reach a capacity of 4 GW by 2030 and produce up to 480,000 tonnes of green hydrogen per year.

For more information, please visit:
http://www.masdar.ae
facebook.com/masdar.ae
twitter.com/masdar

This information is provided by Daniel J. Edelman, Inc. on behalf of Masdar. More information from the Department of Justice, Washington DC.

photo: https://mma.prnewswire.com/media/2094740/Masdar_10GW.jpg
photo: https://mma.prnewswire.com/media/2094739/Masdar_10GW_2.jpg
ID: https://mma.prnewswire.com/media/1973446/4038263/Masdar_Logo.jpg

SOURCE Masdar