Egypt on Tuesday signed an agreement with the United Arab Emirates (UAE) to create one of the world's largest $10 billion wind power projects, Al Arabiya TV reported
DOHA (Pakistan Point News / Sputnik - 07th June, 2023) Egypt on Tuesday signed an agreement with the United Arab Emirates (UAE) to create one of the world's largest $10 billion wind power projects, Al Arabiya TV reported.
The project to generate 10 gigawatts of electric power will be created by a consortium led by Emirati renewable energy company Masdar, which will also include the Egyptian leader in this field Infinity Power and Hassan Allam Utilities. The world's largest wind farm will be located near the city of Sohag in central Egypt. Electricity generation in the project is expected to begin within four years.
A memorandum of understanding on the joint wind energy project was signed on the sidelines of the UN Climate Change Conference COP27 in Egypt's Sharm el-Sheikh last fall.
The project is expected to be part of Egypt's Green Corridor initiative dedicated to renewable energy projects.
The wind farm is expected to save Egypt about $5 billion in annual natural gas costs and help create up to 100,000 jobs.
