BUDAPEST – On the fringes of the twenty-seventh United Nations Conference on Climate (COP 27) in Sharm El Sheikh Tourist Resort in Egypt, the UAE and Egypt struck an agreement to establish a wild wind energy project with a capacity of 10 GB in Egypt.
The wild wind power station will save Egypt “approximately 5 billion US dollars in annual natural gas expenditures, in addition to providing up to 100,000 employment,” according to the Emirates News Agency.
” Upon completion, the station will produce “47,790 GWh of clean energy annually and will contribute to the emission of 23. 8 million tons of carbon dioxide, equivalent to approximately 9% of the current carbon dioxide emissions in Egypt,” according to the agency.
The agreement was signed by Abdel Fattah El-Sisi, the president of Egypt, and Sheikh Mohammed bin Zayed Al Nahyan, the president of the United Arab Emirates.
The president of the United Arab Emirates, Sheikh Mohammed, declared in a statement on Twitter that “we will move on with quality projects for renewable energy solutions and encouraging sustainable development.”
The UAE is looking to increase its investments in clean and renewable energy, and this month it signed a strategic cooperation deal with the US to invest $100 billion in 100 gigawatts of clean energy projects in both nations and around the world by 2035.
The UAE has made great efforts to keep pace with the transition in the energy sector, and has invested more than $ 50 billion over the past ten years in clean energy and solutions in various parts of the world.
In addition to its peaceful nuclear programme “Baraka,” the UAE boasts three of the biggest and least expensive solar energy projects in the world that can supply up to 25% of its electricity needs without emitting any greenhouse gases.
Last week, Saudi Arabia and the UAE, two of the world’s biggest oil exporters, emphasised the importance of making investments in all forms of energy, including hydrocarbons.
Baghdad and the UAE government’s “Masdar” corporation inked a deal in October/two publications, the first of which is in 2021, to erect five solar-powered thermal stations in Iraq.
After a difficult year that saw disasters linked to weather changes that caused the urgent need for solid procedures, almost 200 countries attend the conference.
On the development of the wind power generation project, the UAE and Egypt reach agreement.
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