SHARM EL-SHEIKH, Egypt - The presidents of the United Arab Emirates (UAE) and Egypt witnessed the signing of an agreement on Tuesday to develop one of the world's largest onshore wind projects in Egypt, according to an official statement on the Gulf nation's state news agency.
The memorandum of understanding was signed between the UAE's renewable energy firm Masdar alongside its joint venture with Egypt's main renewable energy developer Infinity and Hassan Allam Utilities, the statement on new agency WAM said.
Masdar, which has a portfolio of renewable energy assets with a combined value of more than $20 billion and a total capacity of more than 15GW, said the new, project would be its biggest yet.
The 10GW farm would produce 47,790 GWh of clean energy annually and offset 23.8 million tonnes of carbon dioxide emission, equivalent to around 9% of Egypt's current Co2 emissions.
''With this agreement to develop our largest ever project, Masdar is proud to bolster our contribution to Egypt's renewable energy goals'', Masdar's CEO Mohammed Jameel al - Ramahi said.
Tuesday's agreement was signed by Masdar Chairman Sultan al - Jaber, who is also the UAE's special climate envoy, its industry minister and the chief of state energy firm Adnoc, on the sidelines of the ongoing COP27 climate summit in Egypt's coastal city of Sharm El - Sheikh.
''The UAE and Masdar will continue to support Egypt's net-zero goals and we will endeavor to take forward the gains made her at COP27 as the UAE prepares to host COP28 next year', Jaber said in the statement.
Comentarios