"We will sign an agreement to establish the first joint Emirati and Egyptian venture," said Aktham Aboul Ela, a senior official at the Electricity and Energy Ministry. The wind farm will be located near Suez on Egypt’s east coast.
On the back of its aggressive renewables policy, Egypt has emerged as the biggest generator of wind energy in the Middle East and Africa, according to the Global Wind Energy Council.
It has installed 430 MW in wind turbines projects, which puts it ahead of Morocco, which nearly doubled its capacity last year alone to 253 MW. Iran was third, with 91 MW of installed wind power.
The agreement will allow for the construction and start of implementation of the first 200 megawatt wind farm in the country. Abu Dhabi’s state-owned green energy firm Masdar has unveiled plans to invest $15 billion in renewable energy projects such as the world’s flagship carbon-free city in Abu Dhabi, the capital of the United Arab Emirates.
The country aims to generate 12 percent of its power from wind farms out of a total of 20 percent from renewable sources by 2020 and is seeking to attract $110 billion in investments in its energy sector by 2027.