China and Egypt have signed a memorandum of understanding (MoU) under which the Chinese company SANY Renewable Energy will establish Egypt’s first wind turbine manufacturing facility and develop a 2,000-megawatt wind power project in the northern Gulf of Suez.
The agreement was signed on June 24 in the presence of Egyptian Prime Minister Mostafa Madbouly, according to a statement issued by the Egyptian cabinet, Caliber.Az reports, citing Chinese media.
The MoU envisages the local production of wind energy equipment to meet domestic demand while exporting excess output to international markets.
The initiative is also aimed at supporting Egypt’s drive to localise renewable energy technologies, increase local participation in clean energy projects, and expand the use of local currency in solar and wind energy investments.
The deal further includes the construction of a 2,000-MW wind farm, which will be connected to Egypt’s national power grid within a maximum of 23 months after the final agreements are signed, Electricity and Renewable Energy Minister Mahmoud Esmat said.
According to the cabinet, the project forms part of Egypt’s broader energy strategy, which seeks to raise the share of renewable energy in the country’s energy mix to 45 per cent over the next two years.
By Bakhtiyar Abbasov
