Friday 22 Nov
Egypt has inked agreements with the Masdar-Infinity consortium to develop a 200-megawatt wind power plant in the Suez Gulf region. The project, scheduled to commence commercial operations in October 2026, will be developed, financed and operated by the consortium. This strategic partnership aims to boost Egypt's renewable energy portfolio and accelerate its transition to a low-carbon economy.
Following the signing ceremony, Prime
Minister Moustafa Madbouly emphasized the crucial role of this step in
advancing more targeted renewable energy projects. This aligns with the state's
broader strategy to increase electricity generation from sustainable sources
and decrease reliance on traditional fuels.
Al-Sharq newspaper reported in
August that the project would follow a Build-Operate-Own (BOO) model. Under
this arrangement, the investor would be responsible for financing,
constructing, and owning the plant. The Egyptian Electricity Transmission
Company would commit to purchasing the entire output of the project for its
operational lifespan.
The Egyptian Ministry of
Electricity and Renewable Energy aims to finalize an agreement with Abu Dhabi Future
Energy Company (Masdar) this quarter to initiate a wind power plant project. An
official estimate places potential investments in the project at $180 million.
It's noteworthy that a consortium comprising Masdar, Infinity Power, the largest African renewable energy company, and Hassan Allam Holding, signed an agreement with the Egyptian government in May to secure a land plot for the development of a 10,000-megawatt wind power plant. This project, with investments exceeding $10 billion, is poised to become one of the world's largest wind power facilities.
