The Egyptian Electricity Transmission Company (EETC) has signed an agreement with Siemens Gamesa Renewable Energy (SGRE) to develop a 500-megawatt wind power plant in the Gulf of Suez, the Egyptian government announced Wednesday.
The project aims to expand the country’s reliance on renewable energy and reduce carbon emissions.
Under the agreement, SGRE will be responsible for the development, financing, and operation of the wind farm. The initiative is part of Egypt’s long-term energy strategy, which targets 42% renewable energy in its electricity mix by 2030 and 65% by 2040.
Egyptian Minister of Electricity and Renewable Energy Mahmoud Esmat emphasized the project’s importance in advancing the government’s renewable energy vision and making better use of the country’s natural resources.
Egyptian investments in renewable enrgy
Egypt has been ramping up investments in renewable energy as it seeks to reduce its reliance on fossil fuels and position itself as a regional energy hub.
The country already hosts some of the largest solar and wind farms in Africa, including the Benban Solar Park in Aswan and the Gulf of Suez Wind Farm, which has been a key site for wind energy expansion.
The new project with Siemens Gamesa is expected to contribute significantly to Egypt’s clean energy goals while supporting its broader efforts to combat climate change and promote sustainable development.