Mohamed Abdel Qader Al Ramahi, Director of Asset Management, Technology and Green Hydrogen at UAE Masdar, has revealed the details of an agreement to set up an $11 billion wind energy project in Egypt.
He explained that on the first day of the COP27 Climate Summit in Sharm El Sheikh, Egypt, an agreement was announced for a 10 megawatt project using wind power, and this helps Egypt meet its energy needs and provides Egypt with 5 billion cubic meters of natural gas, which can be exported later.
He pointed out that the duration of the project is about 5 years, the investment is 11 billion dollars, and by this partnership we mean the creation of local content aimed at supporting local partnerships and employing the local workforce, as it creates 10,000 jobs. in the Egyptian market, in addition to 30,000 jobs. During the project period, we are interested in cooperation with Egyptian companies specializing in this field.
Mohammed Mansour, president of Infinity Power, said the consortium, which includes Abu Dhabi-owned Masdar and Infinity Power Holdings, will complete a 10 gigawatt onshore power plant by 2030. This production capacity is equivalent to approximately 20% of the required capacity. The United Kingdom currently gets it from all forms of renewable energy.
Mansour added that the Egyptian government would buy electricity generated by the project and some of it could be exported via existing and planned cables to Europe, Saudi Arabia, Sudan and Libya.
Source: RT