Saudi-Egyptian Cooperation for Wind Energy Production

Egyptian Prime Minister Mostafa Madbouly witnessed the signing of a usufruct agreement for a wind energy production project in the Gulf of Suez and Jabal al-Zeit areas with a capacity of 1.1 gigawatts. Egyptian Electricity Minister Mohamed Shaker stated that "according to the agreement signed today, the consortium will work during the project's development phase to complete site studies and secure project financing, which will be located in the Gulf of Suez and Jabal al-Zeit areas." Shaker noted that "this project is considered the largest of its kind for wind energy production in the Middle East and one of the largest onshore wind projects in the world," adding that "upon completion, the project will contribute to reducing 2.4 million tons of carbon dioxide emissions annually, saving about 840,000 tons of fuel each year, and providing around 6,000 direct and indirect job opportunities, in addition to supplying electricity to approximately one million housing units." Thomas Brewster, the CEO of investment at Saudi "ACWA Power," stated that "the project will be designed to utilize the latest wind turbine technologies, reaching a height of about 220 meters, making them the tallest in the Gulf of Suez area, which helps in utilizing the land allocated for the project at the highest level of efficiency." The project investments amount to $1.5 billion, involving the New and Renewable Energy Authority and a consortium led by Saudi "ACWA Power" and Egyptian "Hassan Allam" utilities.