Abu Dhabi Future Energy Company (Masdar), Africa’s largest renewable energy developer Infinity Power and Hassan Allam Utilities, a sustainable infrastructure-focused investment platform, have signed an agreement with Egypt’s New and Renewable Energy Authority in order to secure land to build a 10-gigawatt (GW) capacity onshore wind farm in Egypt.

The wind farm is set to be one of the largest of its kind in Africa, with a project value of more than $10 billion, as per the statement.

The landmark wind project will produce 47,790 GWh of clean energy per year and reduce around 9 percent of Egypt’s annual carbon emissions by displacing 23.8 million tons of carbon dioxide annually.

The wind farm will also help Egypt meet its strategic objective of sourcing 42 percent of its energy from renewables by 2030. The 10 GW plant will save the North African nation an estimated US$ 5 billion in natural gas costs a year.

Dr. Mohamed Shaker Al-Markabi, Minister of Electricity and Renewable Energy in Egypt, said that, “This project represents a continuation of the historical and brotherly relations between the Arab Republic of Egypt and the UAE and reflects the fruitful and constructive cooperation between the two brotherly countries.”

Mr. Mohamed Jameel Al Ramahi, CEO of Masdar, stated that, “Masdar is proud to be working with global partners to maximize our direct impact on Egypt in all fields of business and economy and help address urgent global sustainability challenges and support the global efforts to develop sustainable solutions to produce energy using the latest available technologies with the lowest competitive cost. This mega project – which will transform lives and livelihoods – is the culmination of hard work, dedication, and steadfast partnership between Masdar, our joint venture – Infinity Power – and Hassan Allam Utilities.”

The original agreement to develop the 10 GW wind farm was signed between Masdar, Hassan Allam Utilities and Infinity Power, and the Egyptian Electricity Transmission Company and witnessed by the presidents of the UAE and Egypt on the sidelines of the UN climate change conference, COP27, in Sharm El Sheikh, Egypt last year.