Energy

This wind farm is poised to be one of the largest in the world, with a project value exceeding US$10bn. (Image source: Masdar)

Infinity Power, an African renewable energy developer, together with Hassan Allam Utilities, an investment platform, and Masdar have signed a Land Access Agreement with the Egyptian Government for the consortium’s 10GW capacity onshore wind farm in Egypt

This wind farm is poised to be one of the largest in the world, with a project value exceeding US$10bn.

The agreement grants the consortium access to a 3,025 sq km area of land located in West Suhag. It enables the consortium to conduct essential development studies to advance the project, including resource measurement campaigns, geotechnical and topographic surveys, and environmental studies to ensure minimal environmental impact.

Clean energy

This wind project is projected to generate 47,790 GWh of clean energy annually and reduce around 9% of Egypt’s yearly carbon emissions by displacing 23.8 million tonnes of carbon dioxide annually. Furthermore, the wind farm will aid Egypt in achieving its strategic goal of sourcing 42% of its energy from renewables by 2030. It is estimated that the 10 GW wind farm will save the country approximately US$5bn in natural gas costs per year.

Masdar’s CEO, Mohamed Jameel Al Ramahi, said, “Masdar, its joint venture Infinity Power, and our partner Hassan Allam Utilities, is supporting Egypt to deliver its ambitious renewable energy targets. I congratulate Egypt’s leadership on this major milestone for the country, with what is set to be one of the largest wind farms on the planet. At 10GW, this landmark project is pushing the limits of innovation and scale as we work to help unlock Africa’s clean energy potential, and further advance its energy transition.”

Amr Allam, co-CEO of Hassan Allam Holding, said, "In a significant move towards a more sustainable future for Egypt, the signing of the Land Access Agreement for the 10GW wind farm project alongside our esteemed partners, Infinity Power and Masdar, marks a pivotal moment. This initiative underscores our commitment to clean energy and environmental responsibility, and we are proud to be part of this transformative project that will have a positive impact on our nation's energy landscape and beyond."

Mohamed Ismail Mansour, chairman, Infinity Power said, "We are excited to be moving to the next step of the development of our 10GW wind farm in Egypt and cannot wait to see it progress. Not only will this project deliver substantial benefits during construction and operation, creating jobs for local people and investing in their local communities, the impact of the energy uplift will be amazing to see. This source of clean, affordable energy will save Egypt money, reduce emissions and power industry across the country.”

Nayer Fouad, CEO, Infinity Power added, "This wind farm is an ambitious and important project, set to be one of the largest in the world, and we’re delighted to be taking this step forward. It’s a hugely important project for Egypt and the wider region, and also highlights Infinity Power as a leading investment platform in renewable energy, able to deliver renewable projects on the largest scale. This project will also show that, by setting bold targets, countries can embrace and adopt renewable energy and transform their energy mix."

This series will focus on monitoring progress and offering recommendations. (Image source: IRENA)

Dr. Sultan Al Jaber, President of COP28, has officially assigned the International Renewable Energy Agency (IRENA) the task of creating a specialised annual report series.

This series will focus on monitoring progress and offering recommendations to achieve key energy objectives outlined in the UAE Consensus established at COP28.

The commitment to triple renewable power capacity and double energy efficiency by 2030 reflects crucial aspects of the global effort to combat climate change and attain the 1.5°C target. The UAE Consensus underscores the necessity of transitioning from fossil fuels in energy systems in a fair, organised, and equitable manner, with the ultimate goal of achieving net zero emissions by 2050.

Social development

COP28 President Dr Sultan Al Jaber said, “Tripling renewable energy capacity and doubling energy efficiency by 2030 are central parts of the UAE Consensus, agreed by all 198 Parties at COP28. IRENA’s annual report will track and monitor global progress against these targets, which are crucial in ensuring we turn agreement into action and keep 1.5°C within reach. The energy transition offers the greatest opportunity for social and economic development since the industrial revolution, and in IRENA we have a partner who understands both the need to transition to renewable energy and the huge economic opportunity this offers.”

IRENA director-general Francesco La Camera welcomed the recognition of IRENA’s new custodian role saying, “I confirm the unwavering commitment by IRENA to the successful implementation of the historic UAE Consensus. Given the centrality of the Agency’s World Energy Transitions Outlook 1.5°C Pathway to the tripling of renewables and doubling of energy efficiency goals, IRENA is best placed to monitor progress towards these vital outcomes and ensure commitments are transformed into firm action and progress on the ground.”

The new annual tracking report, which will be led, developed and published by IRENA, as official Custodian Agency, each year from 2024 to 2030, will feature the latest data and projections concerning the tripling of renewables and doubling of energy efficiency by 2030, providing timely and accurate inputs to future COP engagements.

DNV's latest standard, DNV-ST-F207, aims to facilitate the integration of cutting-edge technologies. (Image source: DNV)

DNV, an independent authority in energy solutions and assurance, has unveiled its latest standard, DNV-ST-F207, tailored for hybrid thermoplastic composite flexible pipes (TCPs)

Kohler Energy provides several industrial energy solutions. (Image source: Canva)

Kohler Co. and Platinum Equity announced the completion of the transaction to establish Kohler Energy as an independent entity. Platinum Equity now holds the majority ownership of the Energy business, while Kohler Co. remains an investment partner. Financial terms of the transaction were not disclosed.