The Egyptian Electricity Transmission Company (EETC) signed an agreement with Siemens Gamesa Renewable Energy (SGRE) on Wednesday March 19 to establish a 500-megawatt wind power plant in the Gulf of Suez.
Under the terms of the agreement, SGRE will be responsible for the development, financing, and operation of the wind power plant, according to a statement from the Egyptian Cabinet.
The project is expected to play a pivotal role in enhancing Egypt’s renewable energy capacity, contributing significantly to the country’s goal of increasing the share of renewable and clean energies in its energy mix. The Egyptian government has set ambitious targets, aiming for 42 percent of its energy to come from renewable sources by 2030, and 65 percent by 2040.
During the signing ceremony, Minister of Electricity and Renewable Energy Mahmoud Esmat highlighted that the project aligns with the government’s broader vision to advance the renewable energy sector, maximise the use of natural resources, and reduce carbon emissions.