Siemens Gamesa signs 500 MW wind farm deal in Egypt
Deal News | Mar 20, 2025 | Zawya
On Wednesday, the Egyptian Electricity Transmission Company (EETC) and Siemens Gamesa Renewable Energy entered into an agreement for the construction of a 500 MW wind power facility in the Gulf of Suez. The signing ceremony, attended by Egyptian Prime Minister Mostafa Madbouly and Minister of Electricity and Renewable Energy Mahmoud Essmat, is a substantial step towards Egypt's goal of increasing the share of renewables in its energy mix to 42% by 2030, and 65% by 2040. Siemens Gamesa is tasked with the construction, financing, and operation of this wind plant, reflecting a commitment to boost public-private partnerships in Egypt's energy landscape. This project aligns with the government's strategy of minimizing reliance on fossil fuels and reducing carbon emissions. Minister Essmat highlighted this project as a part of Egypt's dedication to sustainable development and the continued involvement of private entities in achieving environmental sustainability. Ayman Saad, CEO of Siemens Gamesa Egypt, expressed confidence in furthering the company's commitment, noting its long-standing contribution to Egypt's renewable sector, having already generated 1.5 GW from clean sources.
Sectors
- Renewable Energy
- Infrastructure
Geography
- Egypt – The agreement and wind farm project are based in Egypt, aligning with the country's strategy to increase renewable energy sources.
- Middle East – The article positions Egypt's efforts within the regional context of the Middle East, where renewable energy is gaining traction.
Industry
- Renewable Energy – This article is set within the renewable energy sector, focusing on wind power generation with the construction of a new wind farm. The involvement of Siemens Gamesa highlights the industry's role in achieving clean energy goals.
- Infrastructure – The article discusses the construction and development of a wind power plant, which falls under the broader infrastructure development sector.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Egyptian Electricity Transmission Company (EETC) | Partner | Company | A state-owned company responsible for the electricity transmission infrastructure in Egypt. |
| Siemens Gamesa Renewable Energy | Developer | Company | A global leader in wind power solutions, tasked with constructing and operating the new wind farm in Egypt. |
| Mostafa Madbouly | Witness | Person | Prime Minister of Egypt, present at the signing ceremony. |
| Mahmoud Essmat | Minister | Person | The Egyptian Minister of Electricity and Renewable Energy, promoting renewable energy projects. |
| Mona Rizk | Signer | Person | Chairperson of EETC, signed the agreement with Siemens Gamesa. |
| Ayman Saad | Signer | Person | CEO of Siemens Gamesa Egypt, signer of the agreement. |