ACWA Power MoU: 10 GW
In November 2022, power generation developer and investor ACWA Power signed a memorandum of understanding (MoU) with the Egyptian government for the construction of a 10 GW onshore wind project. The MoU was signed between ACWA and Egypt’s New & Renewable Energy Authority and the Egyptian Electricity Transmission Company. Feasibility studies are currently underway.
Masdar Consortium MoU: 10 GW
November 2022 also saw the signing of an MoU between a consortium comprising UAE-based energy company Masdar; Dutch renewable developer Infinity Power; and Hassan Allam Utilities and Egypt’s Ministry of Electricity and Renewable Energy for the development of a 10 GW onshore wind project. The project represents part of the Green Corridor Initiative – which aims to increase the share of renewables to 42% by 2035 – and is expected to create 100,000 jobs while displacing 23.8 million tons of carbon emissions.
Fortescue Future Industries MoU: 9.2 GW
Green energy project developer Fortescue Future Industries signed a framework agreement for the development of 7.6 GW of wind and solar for the production of green hydrogen in 2022. The projects have the capacity to produce up to 330 kilo-tons of green hydrogen per annum.