CAIRO, March 19 (Xinhua) -- The Egyptian Electricity Transmission Company (EETC) signed on Wednesday an agreement with Siemens Gamesa Renewable Energy (SGRE) to establish a 500-megawatt wind power plant in the Gulf of Suez.
The SGRE will be responsible for developing, financing, and operating the wind power plant, the Egyptian Cabinet said in a statement.
The project is expected to play a crucial role in increasing the share of renewable and clean energies in Egypt's energy mix, said the statement, adding the country plans to achieve 42 percent renewable energy in the energy mix by 2030 and 65 percent by 2040.
Egyptian Minister of Electricity and Renewable Energy Mahmoud Esmat said during the signing ceremony that the project is part of the government's vision to develop the renewable energy sector, optimize the use of natural resources, and lower carbon emissions.
