Egypt celebrated the inauguration of its latest venture into renewable energy with the unveiling of the 252-megawatt Gulf of Suez wind farm. Anticipated to churn out 1,200 megawatt-hours of clean electricity annually, the project marks a significant stride towards the nation's ambition of achieving a 42% renewable energy share in its power mix by 2030.
Under the ownership of Egypt's New and Renewable Energy Authority (NREA), the wind farm underscores the country's commitment to sustainable energy initiatives. Mohamed Al Khayat, Chairman of NREA, highlighted the environmental benefits, stating, “The commissioning of the Gulf of Suez plant will save more than 200,000 tonnes of fossil fuel annually and offset about 500,000 tonnes of carbon dioxide emissions per year.”
The EUR 220 million (USD 238.74 million) project was made possible through financing from a consortium of European institutions, including KfW, AFD, EIB, and the European Commission, as disclosed by Al Khayat last August.
The ceremony, graced by the presence of Mohamed Shaker, Minister of Electricity and Renewable Energy, shed light on Egypt's vast renewable energy potential. Minister Shaker affirmed, “Egypt has the technical potential for about 350 GW of wind and 650 GW of solar energy,” noting the allocation of over 40,000 square kilometres for renewable energy projects thus far.
Furthermore, Minister Shaker underscored efforts to bolster Egypt's national grid to accommodate the surge in renewable energy generation, particularly for green hydrogen projects. Collaborating with Belgian firm Elia, the Egyptian Electricity Transmission Company (EETC) is engaged in a comprehensive study to address the evolving needs of the network.
