Masdar, an Abu Dhabi-based company will develop a wind power project capable of more than 800 megawatts (MW) in Egypt. This follows an agreement it signed during Abu Dhabi Sustainability Week.
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, the opportunities to provide energy from renewable sources also expand. According to Mohamed Jameel Al Ramahi, CEO at Masdar, they are ready to tap into the existing experience with renewable energy projects. They will also collaborate with industry experts like Elsewedy Electric and Marubeni in Egypt, to deliver on the country’s visionary plans for the future.
Elsewedy and Marubeni have significant regional experience. Marubeni 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. 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 aims to generate 42% of its electricity from renewables by 2025. According to the International Renewable Energy Agency (IRENA), the country aims at installing 7.2GW of wind power by 2020 and 3.5 GW of solar by 2027.
This new addition to Egypt’s energy portfolio is amongst several projects implemented in recent years. It shows the country’s attractiveness as a location for renewable energy investors. Ahmed Elsewedy, president and chief executive officer of Elsewedy Electric notes that they are confident that Egypt will realize the ambitious targets set for renewable energy. On the other hand Elsewedy is glad to be part of the continuous success of Egypt’s IPP programme alongside two great international organizations.