Masdar plans to develop 800 megawatts (MW) of wind projects in in Egypt in partnership with the country's Elsewedy Electric and Japan’s Marubeni, it said on Thursday, as the Abu Dhabi renewables energy firm expands its regional remit.
The renewables firm did not provide a figure for the investment needed to develop the projects.
Masdar already has solar projects in the North African country, which aims to generate 42 per cent of its power from renewables by 2025.
“As Egypt’s economy expands, so do the opportunities to provide energy from renewable sources,” said Mohamed Al Ramahi, chief executive of Masdar. “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.”
Masdar’s wind portfolio includes the London Array, the world’s largest offshore wind farm currently in operation. The company recently launched another large-scale offshore wind project in the UK, Dudgeon, off the coast of North Norfolk in East Anglia.
Its other wind energy projects include the Middle East’s first utility-scale wind farm (Tafila in Jordan), the largest wind project in the Western Balkans (Cibuk 1), and Hywind Scotland, the world’s first commercial-scale floating wind park.
Separately, Masdar signed an agreement with Spanish energy firm Cespa, (which, like Masdar, is wholly owned by Abu Dhabi strategic firm Mubadala Investment Company) to explore renewable energy project collaborations, especially in wind and solar.
Since 2006, Masdar has invested in projects with a combined value of US$8.5 billion, with the company’s share of this investment amounting to $2.7bn. The electricity generating capacity of these projects, which are either fully operational or under development, is nearly 3 gigawatts.