We have a timeline for one of the region’s largest wind projects:Infinity Power, Hassan Allam Utilities, and the UAE’s Masdar are set to start construction on their 10-GW wind farm in 1Q 2025, Infinity Power Chairman Mohamed Mansour told Al Arabiya. The consortium is planning to reach financial closure by 1Q 2025 with operations scheduled to begin in 2027 — approximately two years after construction commences, Mansour added. The plant will be one of the country’s biggest wind energy projects and one of the largest in the world.

Where the money’s coming from: The project will require USD 11 bn of investment, USD 1 bn more than June estimates, Mansour told the Saudi broadcaster. “The funding for this project will be sourced from investors outside of Egypt, meaning that there will be no delays tied to Egypt’s current FX shortage,” he said. Between 70-80% of the funding will come from international institutions.

About the project: Located in Sohag, the wind farm will offset as much as 10% of our total carbon footprint, saving the country some USD 5 bn per year by minimizing the need for natgas consumption.

IN COP28 NEWS-

Egyptian officials made the rounds during day six of COP28: Planning Minister Hala El Said met with CEOs of US conglomerate Honeywell and Australian green energy company Fortescue Future Industries, while Oil Minister Tarek El Molla met with the head of LSE-listed oil and gas company Energean and the chairman of AfreximBank.

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