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Masdar in deal to develop major wind power project in Egypt

ABU DHABI, January 18, 2018

Abu Dhabi Future Energy Company (Masdar) has signed a collaboration agreement to deliver a wind power portfolio of more than 800 megawatts (MW) in Egypt alongside Elsewedy Electric and Marubeni Corporation. 
 
The signing took place in the presence of Wael Gad, ambassador of Egypt to the UAE, during the Abu Dhabi Sustainability Week.
 
Mohamed Jameel Al Ramahi, chief executive officer at Masdar, said: “As Egypt’s economy expands, so do the opportunities to provide energy from renewable sources. We are ready to tap into our existing experience with renewable energy projects, while collaborating with industry experts like Elsewedy Electric and Marubeni in Egypt, to deliver on the country’s visionary plans for the future.” 
 
The three entities are partnering for the first time to build on their existing renewable energy capacity in Egypt. Masdar has already developed a number of solar power plants in partnership with Egypt’s New and Renewable Energy Authority. These include the 10 MW Siwa Solar photovoltaic (PV) plant; four PV plants in the Red Sea governorate with a combined capacity of 14 MW; and three PV installations in Al Wadi Al Jadeed with a combined capacity of 6 MW. That is in addition to providing 7,000 standalone solar home systems to homes and community buildings.
 
Egypt’s Ministry of Electricity and Renewable Energy recently announced that the country plans to generate 42 per cent of its electricity from renewables by 2025. According to the International Renewable Energy Agency (Irena), headquartered in Masdar City in Abu Dhabi, the country aims to install 7.2 gigawatts (GW) of wind power by 2020 and 3.5 GW of solar by 2027.
 
“This new addition to Egypt’s energy portfolio is amongst several projects implemented in recent years, and shows once again the country’s attractiveness as a location for renewable energy investors,” said Ahmed Elsewedy, president and chief executive officer of Elsewedy Electric. “We are confident that Egypt will realise the ambitious targets set for renewable energy, and Elsewedy is glad to be part of the continuous success of Egypt’s IPP programme alongside two great international organisations.”
 
Elsewedy Electric is a leading provider of integrated energy solutions primarily focused on energy infrastructure projects in the Middle East and Africa. In addition to delivering large and complex engineering and construction projects, Elsewedy Electric also manufactures and distributes electrical products worldwide, with production facilities in more than 16 countries.  
 
Marubeni is one of the leading Japanese trading and investment houses and one of the biggest independent power producers (IPP) in the Middle East and Africa. 
 
Marubeni owns and operates 15 independent water and power producing (IWPP) projects with a total gross capacity of 13,811 MW in the region. Marubeni is currently developing the world’s largest solar power plant in the UAE and rapidly expanding its renewable energy business. This collaboration is Marubeni’s first foray into wind energy in the Middle East. 
 
Masdar is a partner in the world’s largest offshore wind farm currently in operation, London Array, and recently launched another large-scale offshore wind project in the UK, Dudgeon. Masdar’s wind energy portfolio also includes the Middle East’s first utility-scale wind farm (Tafila in Jordan), the largest wind project in the Western Balkans (Čibuk 1), and Hywind Scotland, the world’s first commercial-scale floating wind park.
 
Masdar’s Clean Energy division is a leading developer and operator of utility-scale, grid-tied renewable energy projects, applications providing energy access to communities away from the electricity grid, and carbon abatement projects.
 
Since 2006, Masdar has invested in projects with a combined value of $8.5 billion; the company’s share of this investment is $2.7 billion. The electricity generating capacity of these projects, which are either fully operational or under development, is nearly 3GW gross. - TradeArabia News Service



Tags: Energy | Masdar | Wind |

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