Egyptian Prime Minister Mostafa Madbouly witnessed on Wednesday the signing of an agreement between the Egyptian Electricity Transmission Company (EETC) and Siemens Gamesa Renewable Energy for the construction of a 500 MW wind power plant in the Gulf of Suez. The ceremony was also attended by Minister of Electricity and Renewable Energy Mahmoud Essmat. The agreement was signed by EETC Chairperson Mona Rizk and Siemens Gamesa Egypt CEO Ayman Saad. This collaboration aligns with Egypt's energy strategy, reinforcing the Ministry of Electricity and Renewable Energy's commitment to expanding the role of renewables in the national energy mix. It also strengthens public-private partnerships, encouraging greater private sector involvement in the development of solar and wind energy projects. Under the agreement, Siemens Gamesa will be responsible for the construction, financing, and operation of the wind power plant. The project is set to significantly increase the share of renewable energy in Egypt's electricity supply, supporting the country's ambitious clean energy targets. Egypt aims to generate 42% of its electricity from renewable sources by 2030 and 65% by 2040. This initiative will help reduce reliance on fossil fuels, cut carbon emissions, and promote sustainable energy solutions. Minister Mahmoud Essmat emphasized that the project is a key component of the government's strategy to enhance the renewable energy sector, maximize the use of natural resources, and mitigate environmental impact. He highlighted Siemens Gamesa's long-standing partnership with Egypt in advancing renewable energy projects. "The government firmly believes that renewable energy is essential for sustainable development, environmental protection, and ensuring a better future for future generations," Essmat stated. He noted that Egypt is home to some of the largest renewable energy projects in the Middle East, all developed in close collaboration with the private sector. Ayman Saad, CEO of Siemens Gamesa Egypt, expressed enthusiasm about the partnership, stating: "Our long and successful history in Egypt has contributed to generating 1.5 GW of electricity from clean energy sources. We are excited about this agreement and look forward to further expanding our contributions to Egypt's renewable energy landscape." This agreement marks another milestone in Egypt's transition to a more sustainable energy future, reinforcing its leadership in renewable energy within the region.
