Friday 04 Apr
Prime Minister Dr. Moustafa Madbouly witnessed today, Wednesday, the signing ceremony of the agreement to establish a 500-megawatt wind farm in the Gulf of Suez region, between the Egyptian Electricity Transmission Company and Siemens Gamesa Renewable Energy.
The signing ceremony was attended by Dr. Mahmoud Esmat, Minister of Electricity and Renewable Energy, Engineer Mona Rizk, Chairperson of the Egyptian Electricity Transmission Company, and Engineer Ayman Saad, CEO of Siemens Gamesa Egypt.
The agreement aims to strengthen Egypt's energy strategy and
advance the Ministry of Electricity and Renewable Energy's plan to maximize the
role of renewable energy sources. It also fosters partnerships with the private
sector, encouraging their increased involvement in developing solar and wind
power plants.
Under the agreement, Siemens Gamesa will build, finance, and
operate a project to increase the share of renewable energy in the electricity
mix, achieving Egypt's renewable energy targets. This initiative aligns with a
specific action plan and timeline to reach 42% renewable energy by 2030 and 65%
by 2040, thereby increasing clean energy reliance and reducing fossil fuel use
and carbon emissions.
Dr. Mahmoud Esmat stated that the project supports the
state's drive to develop the renewable energy sector, maximize returns from
natural resources, and reduce fossil fuel dependence and emissions. He
emphasized Siemens' successful partnership in electricity projects,
particularly in renewables, and expressed his satisfaction in collaborating
with the company on this key project.
The Minister added that the state is committed to renewable
energy as a means to achieve sustainable development, environmental protection,
and a better future. This vision aligns with the Sustainable Development Goals,
notably Goal 7, which ensures access to affordable, reliable, sustainable, and
modern energy for all. He highlighted the electricity sector's numerous large-scale
renewable energy projects in the Middle East, all implemented through private
sector partnerships.
The CEO of Siemens Gamesa Egypt said, “We have a long and successful history in Egypt, contributing 1.5 gigawatts of clean energy through our projects. We hope this agreement marks the beginning of further successful ventures, and we are fully prepared to proceed with implementation.”
