The Egyptian government is preparing to construct a wind farm that will require an investment of $1.5 billion. In a recent announcement, they stated that their organization will be working along with other businesses, including construction groups, to finalize the site and funds for the 1.1 GW wind energy project, which will provide a source of electricity that is both clean and renewable.
(Photo : Unsplash/Thomas Reaubourg )
1.1GW Wind Energy Project
In recent years, Wind power has become increasingly popular in developing countries as a clean, renewable energy option. The growing affordability of wind technology, the quantity of wind resources in certain places, and the desire to minimize dependency on fossil fuels have all contributed to this trend towards wind energy.
Acwa Power, a company based in Saudi Arabia, has unveiled a 25-year agreement between themselves and the New and Renewable Energy Authority of Egypt on behalf of its association, including the construction firm Hassan Allam. As per the contract, over 1.080 million houses can be powered by the wind farm's record-breaking wind turbines, which are more than 220 meters tall. The partnership that Acwa Power manages will assist in securing funding and help find land for the enormous new wind farm that will be constructed across the Gulf of Suez and Gebel al-Zeit.
It is anticipated that this would result in establishing a wind energy project with a capacity of 1.1 gigawatts (GW), among the most extensive onshore wind energy efforts ever.
A total of $1.5 billion in United States dollars is being invested in its establishment, and its primary objective is to cut carbon dioxide emissions in the region by 2.4 million tons annually. During the project's development phase, the consortium will endeavor to finish site assessments and secure project finance in the Gulf of Suez and Jabal Al-Zeit regions while on the job.
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Green Infrastructure Projects in Egypt
Egypt has established itself as a global leader in developing strategies to produce environmentally friendly infrastructure. The organization is actively promoting foreign direct investment with partners based in the United Kingdom and other countries to guarantee the timely achievement of these green infrastructure goals. But this is not an accidental development.
Egypt's energy diversification strategy, known as the 2035 Integrated Sustainable Energy Strategy, has significantly contributed to this success. It has been brought about by solid leadership and an imaginative approach to public-private partnerships. The use of renewable energy is an essential component of Egypt's green infrastructure policy; nevertheless, this is not the only aspect of the initiative.
Furthermore, a significant contribution has been made by concerted attempts to 'green' the nation's budget. The Environment Sustainability Criteria Egypt implemented in 2019 has several important objectives, one of which is to guarantee that fifteen percent of the government's investment will be allocated to environmentally friendly initiatives and to increase this percentage to fifty percent by 2025.
Accordingly, Egypt is actively striving to enhance the overall state of the nation through initiatives such as universal healthcare, green financing, and a thorough reevaluation of its green infrastructure. These endeavors offer promising prospects for forming mutually beneficial alliances with international corporations interested in supporting a modern nation's sustainable reconstruction.
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