Recently, Siemens Gamesa, a well-known renewable energy developer in Spain, signed a cooperation agreement with Egyptian Electricity Transmission Company to invest in the development of large-scale wind power projects in the Suez Gulf region of Egypt. The project plans to generate an installed capacity of 500MW, and Siemens Zhimeifeng will be responsible for the construction, financing, and operation of the wind power project.

This project is one of a series of measures taken by Egypt to achieve the goal of renewable energy accounting for 42% of the country's annual electricity demand by 2030 and 65% by 2040. Siemens Zhimeifeng has invested in building 1.5GW of clean energy installed capacity in Egypt, further consolidating its influence in the renewable energy market in Egypt.

Egypt is striving to expand its renewable energy industry to achieve sustainable development goals, reduce dependence on fossil fuels, and conserve its natural gas reserves. In recent years, the Egyptian government has signed numerous agreements for renewable energy projects with multiple regions and international companies to further increase renewable energy production capacity.

Since June 2015, Egypt has achieved self-sufficiency in electricity, with current electricity supply exceeding 25%. Despite sufficient power supply, Egypt will still implement daily power rationing measures in the summer of 2023 and 2024 to alleviate the enormous pressure on the country's natural gas network caused by rising temperatures and increased electricity consumption for air conditioning.

The signing of this wind power project marks Egypt's further development in the field of renewable energy, which not only helps achieve its energy transition goals, but also provides new opportunities for international companies to invest in Egypt. With the advancement of the project, Egypt is expected to make more breakthroughs in the field of renewable energy and contribute to global sustainable development. (This article is from the official website of Jian Dao www.seetao.com. Reproduction without permission is prohibited, otherwise it will be prosecuted. Please indicate Jian Dao website+original link when reprinting.) Jian Dao website strategy column editor/Wu Juan