Over the last 100 days, Egypt's wind energy sector has experienced remarkable developments, with multiple domestic and international entities making significant investments in this area.
Actis set to acquire state-owned wind farm
In line with the country's ambitious target to derive 42% of its energy from renewable sources by 2030, a private equity firm, Actis, is set to acquire the state-owned 580-MW Gabal El Zeit wind farm.
International consortium plans massive onshore wind farm
Concurrently, consortiums led by Masdar, Infinity Power, and Hassan Allam Utilities have agreed to construct a massive 10 GW onshore wind farm. This project will be instrumental in reducing Egypt's annual carbon emissions by 9% and is projected to save an estimated US$5 billion annually in natural gas costs.
Five-gigawatt wind farm in Sohag province
Norwegian utility Scatec is also making significant strides in the region by partnering with Egypt's Ministry of Electricity and Renewable Energy to develop a five-gigawatt wind farm in Sohag province. This initiative is expected to create 8,000 jobs, promote renewable energy sources, and boost the country's export capacity of green energy to Europe.
Egypt targets 60% renewable energy by 2040
In a noteworthy announcement, Egypt's Minister of Electricity and Renewable Energy, Dr. Mohamed Shaker, increased the country's renewable energy target to 60% by 2040, underscoring the immense potential of renewable energy in Egypt, particularly wind and solar.
Wind turbines by Envision Energy and Amea Power
Several international companies are contributing to Egypt's renewable energy efforts. For instance, Shanghai-based renewable energy provider Envision Energy will supply wind turbines for the 500 MW Amunet wind farm project on the Red Sea coast. Simultaneously, UAE-based AMEA Power plans two major clean energy projects: a 500 MW solar plant and a 500 MW wind farm, scheduled to commence operations in 2025.
Significant growth expected in wind energy sector
Meanwhile, the Global Wind Energy Council expects Egypt to add 4.3 GW of new installations by 2026, reaching a total installed capacity of 8 GW by 2030. This growth has been facilitated by several Memorandums of Understanding (MoUs), covering a wide range of wind energy and green hydrogen projects.
Red Sea wind energy consortium's major project
One of the largest wind energy projects in Africa, a 500 MW wind farm in the Gulf of Suez, is being undertaken by the Red Sea Wind Energy Consortium. This project, set to be fully operational by Q3 2025, will significantly contribute to Egypt's renewable energy capacity and reduction of CO2 emissions.
Egypt-Greece undersea cable project
As Egypt strengthens its position in wind energy, it's also extending its influence abroad. The country plans to transport 3,000 MW of electricity generated from solar and wind energy in North Africa to Greece through the Mediterranean's first undersea cable. This project is a significant part of Europe's strategy to diversify its energy sources amidst a global energy crisis.
The efforts made over the past 100 days have positioned Egypt on a trajectory to become a global wind energy powerhouse and the top wind energy producer in Africa by 2030. With its cost-effective renewable energy sources and increasing investment, Egypt is well on its way to achieving a sustainable energy future.