A consortium of Infinity Power, Hassan Allam Utilities, and Masdar have signed a Land Access Agreement with the Egyptian Government for a 10GW capacity onshore wind farm in Egypt.
The wind farm is set to be one of the largest in the world, with a project value exceeding US$10 billion.
As per the agreement, the Consortium will have access to a 3025 km2 area of land located in West Suhag.
It was shared that this will allow the Consortium to conduct the necessary development studies to progress the project, including resource measurement campaigns, geotechnical and topographic surveys, and environmental studies.
According to the Consortium, the wind project will produce 47,790 GWh of clean energy per year and cut around 9 per cent of Egypt’s annual carbon emissions by displacing 23.8 million tonnes of carbon dioxide annually.
Further, the farm will save the country an estimated US$5 billion in natural gas costs per year.
Masdar’s CEO, Mohamed Jameel Al Ramahi, commented: “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, called the signing of the agreement 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.”
Nayer Fouad, CEO, Infinity Power, added: “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.”
The initial project agreement was signed between the Consortium and the Egyptian Electricity Transmission company, and witnessed by the presidents of the UAE and Egypt back in 2022, on the sidelines of COP27.
This agreement signing was witnessed by the Prime Minister of Egypt, HE Moustafa Madbouly and HE Dr. Mohamed Shaker, Minister of Electricity and Renewable Energy of Egypt, and signed by 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.