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Infinity Power, Africa’s largest renewable energy developer, Hassan Allam Utilities, a sustainable infrastructure development and investment platform, and Masdar, the UAE’s leading renewable energy company, signed a Land Access Agreement with the Egyptian Government. This agreement is for their 10GW onshore wind farm in Egypt, which will be one of the largest in the world, valued at over $10 billion.
The agreement grants the consortium access to 3025 km² of land in West Suhag, allowing them to conduct necessary development studies for the project. These studies will include measuring resources, and performing geotechnical and topographic surveys, along with environmental studies to minimize impact.
The landmark wind project will generate 47,790 GWh of clean energy annually and reduce Egypt’s carbon emissions by about 9 percent, cutting 23.8 million tonnes of carbon dioxide each year. The wind farm will help Egypt achieve its goal of getting 42 percent of its energy from renewables by 2030. Additionally, the 10 GW wind farm is expected to save the country around $5 billion per year in natural gas costs. The Consortium signed the initial agreement to develop the 10 GW wind farm with the Egyptian Electricity Transmission company. The signing took place during the UN climate change conference, COP27, in late 2022, and was witnessed by the presidents of the UAE and Egypt.
Prime Minister of Egypt, HE Moustafa Madbouly and HE Dr. Mohamed Shaker, Minister of Electricity and Renewable Energy of Egypt, were present at the signing ceremony. Mohamed Ismail Mansour, Chairman, Infinity Power, Karim Hefzy, Chief Operating Officer at Hassan Allam Utilities and Dr. Mohamed Asaad Taher, Senior Manager, Business Development and Investment at Masdar signed the agreement.
Masdar’s CEO, Mohamed Jameel Al Ramahi, said, “Masdar, its joint venture Infinity Power, and our partner Hassan Allam Utilities, is supporting Egypt to deliver its ambitious renewable energy targets. I congratulate Egypt’s leadership on this major milestone for the country, with what is set to be one of the largest wind farms on the planet. At 10GW, this landmark project is pushing the limits of innovation and scale as we work to help unlock Africa’s clean energy potential, and further advance its energy transition.”
Amr Allam, Co-CEO of Hassan Allam Holding, commented, “In a significant move towards a more sustainable future for Egypt, the signing of the Land Access Agreement for the 10GW wind farm project alongside our esteemed partners, Infinity Power and Masdar, marks a pivotal moment. This initiative underscores our commitment to clean energy and environmental responsibility, and we are proud to be part of this transformative project that will have a positive impact on our nation’s energy landscape and beyond.”
Mohamed Ismail Mansour, Chairman, Infinity Power said, “We are excited to be moving to the next step of the development of our 10GW wind farm in Egypt and cannot wait to see it progress. Not only will this project deliver substantial benefits during construction and operation, creating jobs for local people and investing in their local communities, the impact of the energy uplift will be amazing to see. This source of clean, affordable energy will save Egypt money, reduce emissions and power industry across the country.”
Nayer Fouad, CEO, Infinity Power added, “This wind farm is an ambitious and important project, set to be one of the largest in the world, and we’re delighted to be taking this step forward. It’s a hugely important project for Egypt and the wider region, and also highlights Infinity Power as a leading investment platform in renewable energy, able to deliver renewable projects on the largest scale. This project will also show that, by setting bold targets, countries can embrace and adopt renewable energy and transform their energy mix.”
