Egyptian Prime Minister Mostafa Madbouly on Wednesday witnessed the signing of a historic memorandum of understanding to establish the country’s first wind turbine factory.

Alongside this, a massive 2,000-megawatt wind power project was launched in the northern region of Gulf of Suez, with financing entirely in Egyptian pounds.

This initiative is a partnership between Sany, a leading Chinese wind turbine technology company, the Egyptian Electricity Transmission Company, and the New and Renewable Energy Authority.

The agreement aims to localize modern technology and increase the local component in the renewable energy sector, enabling Egypt to meet its growing market needs and export surplus production to Middle Eastern and African markets, based on Cairo’s regional trade agreements.

Madbouly affirmed that renewable energy projects receive regular and direct monitoring and review from President Abdel Fattah al-Sisi, noting that localizing industries related to clean energy is a fundamental pillar for enhancing energy security and the green transition in Egypt.

Madbouly added that the government is actively working to expand energy storage systems to maximize the returns from these projects and achieve complete stability for the national electricity grid.

A new source of power

Egypt’s Minister of Electricity and Renewable Energy, Mahmoud Esmat, explained that the project includes the construction of a factory with a production capacity of up to two gigawatts annually within a period not exceeding two years from the signing of the final agreements.

The targeted wind power plant (with a capacity of 2,000 megawatts) will be connected to the national electricity grid within 23 months, the minister explained.

He emphasized that relying on the Egyptian pound for implementation supports the state’s strategic direction to protect the local currency and alleviate pressure on foreign exchange, in line with Egypt’s vision to raise the share of renewable energy in the national energy mix to 45 percent within the next two years.

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