UAE, Egypt sign agreement for major wind energy project
Date
8/18/2024 9:20:55 AM
(MENAFN) The UAE's Masdar and Egypt's Infinity have signed pivotal agreements with the Egyptian Electricity Transmission Company and the New and renewable energy Authority to develop a significant 200-megawatt wind power plant in the Gulf of Suez region. According to the statement issued by the Egyptian Cabinet on Saturday, these agreements outline the alliance's responsibilities to develop, finance, and operate the wind power project, which is slated to commence commercial operations by October 2026. This initiative is part of Egypt's broader strategy to boost the share of renewable energy in its electricity mix and to meet its renewable energy goals.
The agreements are aligned with Egypt's national strategy to enhance the role of renewable energy sources in its energy sector while supporting private sector involvement in establishing solar and wind power facilities. The signing ceremony, held at the Egyptian government headquarters in New Alamein City, was attended by key figures including Dr. Mostafa Madbouly, Prime Minister of Egypt, Eng. Mahmoud Esmat, Minister of Electricity and Renewable Energy, and Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology.
Prime Minister Madbouly emphasized that this agreement underscores Egypt's commitment to expanding its renewable energy projects. He highlighted the state's determination to increase electricity generation from sustainable sources and reduce reliance on traditional energy, stressing that the future of Egypt's energy sector lies in harnessing new and renewable energy sources.
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