Newsnomics AJAY ANGELINA reporter | UAE and Egypt have signed an agreement on Tuesday, to develop one of the world's largest wind Farm of 10GW in Egypt, that will produce 47,790 GWh of clean energy annually and offset 23.8 million tons of carbon dioxide emissions, equivalent to around 9% of Egypt's current CO2 emissions.

The wind farm would be a part of Egypt's Green Corridor initiative aimed to makes up 42% of the country's energy mix by 2035 and will save about $5 billion gas expenditures annually in Egypt.

“The memorandum of understanding was signed between Masdar (UAE) Chairman Sultan al-Jaber along with the chief of state energy firm Adnoc (Egypt), the developer of Infinity and Hassan Allam Utilities,” the statement on news agency WAM said.

"The UAE and Masdar will continue to support Egypt's net-zero goals and we will endeavor to take forward the gains made here at COP27 as the UAE prepares to host COP28 next year. Masdar is proud to bolster our contribution to Egypt's renewable energy goals.” said Masdar's CEO Mohamed Jameel al-Ramahi. 

In April 2022, Masdar and Hassan Allam Utilities signed two agreements with Egyptian state-backed organizations to cooperate in the development of 4 GW green hydrogen production plants in the Suez Canal Economic Zone and on the Mediterranean coast, through which a green hydrogen manufacturing facility will be developed by 2026 to produce 100,000 tons of e-methanol annually able for bunkering in the Suez Canal.

The electrolyze facilities could be extended up to 4 GW by 2030 to produce 2.3 million tons of green ammonia for export as well as supply green hydrogen for local industries.