Egyptian Prime Minister Mostafa Madbouly witnessed the signing of two agreements for a project to establish a 200-megawatt wind power station in the Gulf of Suez, between the Egyptian Electricity Transmission Company, the New and Renewable Energy Authority, and the UAE’s Masdar-Infinity alliance.
The signing ceremony was held at the government headquarters in the New Alamein City, in the presence of Minister of Electricity and Renewable Energy Mahmoud Esmat, and the UAE’s Minister of Industry and Advanced Technology Sultan Al Jaber.
A statement issued by the Egyptian Prime Minister’s office explained that this project comes as part of the state’s strategy to maximize the role of new and renewable energies and support the private sector, utilizing it to establish solar and wind power generation stations.
Under the two agreements the alliance will develop, finance and operate the project, which is expected to begin commercial operation in October 2026.
This project aims to help increase the share of renewable energy in the electricity mix and enhance the country’s efforts to achieve its renewable energy targets, according to the statement.
Madbouly said in the statement that there is complete conviction that the future of energy in Egypt lies in new and renewable energy, and with it comes the importance of exploring ways to introduce the largest possible amount of new and renewable energy into the electricity grid.
Egypt’s Minister of Electricity added that “The project comes within the government’s plan to develop the renewable energy sector to maximize returns and benefit from available natural resources, reduce the use of fossil fuels, and thus reduce carbon emissions, in addition to the project’s contribution to providing many direct and indirect job opportunities during the construction and operation periods.”
This project confirms the ability of renewable energy in Egypt to attract foreign direct investment, he added, referring to the role of Egyptian national institutions in creating an investment climate with low risks and positive interactions with financing institutions and development partners.
