Egypt's Ministry of Electricity, represented by the New and Renewable Energy Authority, has entered into an agreement with Saudi-based company Aqua Power to allocate and provide land for a 10-gigawatt wind energy project in the West Sohag region. The project is expected to produce approximately 50,000 gigawatt-hours of renewable energy upon completion, leading to a reduction of 2.4 million tons of annual carbon dioxide emissions and providing electricity to about 11 million residential units. When all phases of the project are completed, it is projected to save Egypt around $6.5 billion in annual natural gas costs and create approximately 120,000 job opportunities. This includes 45,000 direct employment opportunities during the construction phase and indirect employment for around 75,000 individuals. Additionally, there will be 2,500 jobs for operation and maintenance after the entire plant is built. Minister of Electricity, Mohamed Shaker, emphasized that the country has adopted an ambitious program to develop the electricity sector, with a focus on maximizing the utilization of renewable energy resources and encouraging investment in this crucial area. The renewable energy sector plays a vital role in reducing dependence on fossil fuels and cutting carbon emissions, aligning with Egypt's energy strategy to achieve a 42 percent share of renewable energy sources in the energy mix by 2030. Shaker highlighted that the project's significance lies in strengthening the historical relations between Egypt and Saudi Arabia, showcasing fruitful and constructive cooperation between the two nations. The project also demonstrates Egypt's capability to attract foreign direct investments in renewable energy. Marco Archilli, CEO of Aqua Power, reaffirmed their commitment to supporting Egypt's progress with clean, reliable, and renewable energy, contributing to sustainable development in the country. The project reflects Aqua Power's dedication to providing new job opportunities, preserving the environment, and reducing carbon dioxide emissions, in line with the company's vision of safeguarding the planet for future generations. Aqua Power has been active in Egypt since 2015, with ongoing and planned projects. This wind energy project marks the company's fourth venture in the renewable energy sector and the second in the field of wind energy, following the Benban solar project (120 megawatts), the Kom Ombo solar project (200 megawatts), and the wind farm in the Gulf of Suez and Jabal Al-Zeit (1,100 megawatts). (ICE IL CAIRO)

Fonte notizia: https://www.businesstodayegypt.com/Article/1/2807/Egypt-signs-deal-with-ACWA-Power-to-develop-10-GW