The Abu Dhabi company will work with Elsewedy Electric and Marubeni Corporation on the project
Abu Dhabi-based Masdar will develop a wind power project capable of more than 800 megawatts (MW) in Egypt, as per an agreement it signed during Abu Dhabi Sustainability Week. The signing ceremony was held in the presence of Wael Gad, Ambassador of Egypt to the UAE.
Masdar will partner with Elsewedy Electric and Marubeni Corporation for the first time to develop the renewable energy project. The Abu Dhabi future energy company has already worked with Egypt’s New and Renewable Energy Authority to develop several solar projects.
“As Egypt’s economy expands, so do the opportunities to provide energy from renewable sources. We are ready to tap into our existing experience with renewable energy projects, while collaborating with industry experts like Elsewedy Electric and Marubeni in Egypt, to deliver on the country’s visionary plans for the future,” explained Mohamed Jameel Al Ramahi, chief executive officer at Masdar.
Elsewedy and Marubeni have significant regional experience; the latter is one of the largest independent power producers (IPP) in the region with 13,811MW of capacity. It is also currently working on the world’s largest solar power plant in the UAE, while the collaboration with Masdar and Elsewedy is Marubeni’s first foray into wind energy in the Middle East.
Egypt’s Ministry of Electricity and Renewable Energy stated that the country is aiming to generate 42% of its electricity from renewables by 2025. According to the International Renewable Energy Agency (IRENA), the country aims to install 7.2GW of wind power by 2020 and 3.5 gigawatts (GW) of solar by 2027.
“This new addition to Egypt’s energy portfolio is amongst several projects implemented in recent years, and shows once again the country’s attractiveness as a location for renewable energy investors. We are confident that Egypt will realise the ambitious targets set for renewable energy, and Elsewedy is glad to be part of the continuous success of Egypt’s IPP programme alongside two great international organisations,” noted Ahmed Elsewedy, president and chief executive officer of Elsewedy Electric.