Egypt’s New and Renewable Energy Authority and a coalition led by Saudi Arabia’s ACWA Power have signed a leasing agreement to establish a wind farm with a capacity of 1.1 gigawatts.
The project’s estimated value, located in the Suez Gulf and Gabal El Zeit, is $1.5 billion. It is expected to contribute to reducing carbon emissions by 2.4 million tons and fuel consumption by 840,000 tons, in addition to creating around 6,000 direct and indirect jobs and providing electricity to one million residential units.
As per the reports, the turbines installed in the farm will be the highest in the Suez Gulf, with a height of 220 meters for each turbine. As per the agreement signed, the coalition will carry out the site feasibility study and secure financing for the project.
It may be noted that Egypt plans to increase the electricity supply generated from renewable sources to 20% by 2022 and 42% by 2035. The plan includes wind providing 14 percent, hydropower 1.98 percent, photovoltaic (PV) 21.3 percent, wind 14 percent, concentrating solar power (CSP) 5.52 percent, and conventional energy sources 57.33 percent by 2035. The private sector is expected to deliver most of this capacity.
Egypt has abundant land, sunny weather, and high wind speeds, making it a prime location for renewable energy projects. The renewable energy equipment market is worth billions of dollars. The Egyptian government is aware of the need for a sustainable energy mix to address increasing demand and move to a more environmentally sustainable and diverse electricity sector.
