UAE, Egypt ink major wind energy deal on COP27 sidelines
The United Arab Emirates and Egypt agreed Tuesday to develop one of the world’s largest wind farms in a deal struck on the sidelines of the UN’s COP27 climate summit in Sharm el-Sheikh.
The United Arab Emirates and Egypt agreed Tuesday to develop one of the world’s largest wind farms in a deal struck on the sidelines of the UN’s COP27 climate summit in Sharm el-Sheikh.
The agreement comes as Rwanda looks to increase investment in the energy sector, including electric mobility with electric cars and motorcycles already becoming popular in Kigali.
The firm, which has spent more than $1 billion to prospect for oil and develop wells in Kenya, has seen its annual spending fall significantly over recent years as it continues to shift focus from exploration to production.
“This historic occasion now puts us on the path to achieving first oil in 2025 as agreed in April 2021,” said Minister of Energy and Mineral Development Ruth Nankabirwa.