Scatec awarded land for its 5 GW wind farm in Egypt: Egypt’s Electricity Ministry signed a land allocation agreement with Norway’s Scatec for a planned 5 GW wind farm in Sohag, according to a statement.

What we know: The plant will require USD 5 bn of investment and will create 8k jobs, 300 of which will be permanent once the plant is operational, according to the statement. Once operational, it will be one of the largest wind farms in Egypt and Africa, Scatec CEO Terje Pilskog said at the signing ceremony yesterday. The statement did not set a timeline for the start or completion of the project or where the generated power will be directed.

This is the second MoU signed at COP27 for wind projects to advance: Yesterday’s agreement comes nine months after Scatec signed an MoU with the Egyptian Electricity Transmission Company and the New and Renewable Energy Authority (NREA) to develop a 5 GW portfolio of wind projects during COP27 in Sharm El Sheikh last year. A similar land agreement was signed last month with the Masdar-Infinity Power-Hassan Allam Utilities consortium for a 10 GW wind plant, advancing another MoU inked at the climate summit.

The Norwegian developer is keen to be part of Egypt’s green ambitions: A Scatec delegation discussed in May progress on its renewable projects in Egypt with President Abdel Fattah El Sisi, including its work with ammonia producer Fertiglobe and Orascom Construction on Egypt’s first green hydrogen facility and its plans to construct a 1 mn ton-per-year green ammonia plant. Scatec also signed an MoU to study an Egypt-Europe electricity interconnection project and inked an agreement to set up a green methanol plant in Damietta alongside several local firms, in May. Egypt wants renewable energy to contribute 42% of the country’s total energy mix by 2030 and 60% by 2040.