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9 Nov, 2022
1 min time to read

The agreement between UAE and Egypt to develop one of the largest wind projects in Egypt was signed in Sharm El-Sheikh, Egypt, venue of the COP-27 climate conference, on Tuesday.

It will also be the biggest project of Masdar, the UAE's renewable energy firm, which will work on the project together with its Egyptian counterpart.

The 10 GW wind farm will offset more than 23 million tones of carbon dioxide or roughly 9% of Egypt's current emissions. Upon its completion, the wind farm will become a part of Egypt's Green Corridor Initiative, which aims at ensuring that 42% of the country's energy is renewable.

The project will enable the country to save vast amounts of natural gas; thereby attaining economic growth, reduce carbon emissions and provide greater access to sustainable energy sources,

Mohamed Mansour, the chairman of Infinity Power, the Masdar and Infinity joint venture, said.

According to the official statement, the project will save Egypt around $5bn annually.