Wedoany.com Report-Mar 21, The Egyptian Electricity Transmission Company (EETC) has signed an agreement with Siemens Gamesa Renewable Energy (SGRE) to develop a 500-megawatt wind power plant in the Gulf of Suez, the Egyptian government announced Wednesday.

A power-generating windmill turbine is pictured during sunset at a renewable energy park in Ecoust-Saint-Mein, France

The project aims to expand the country’s reliance on renewable energy and reduce carbon emissions.

Under the agreement, SGRE will be responsible for the development, financing, and operation of the wind farm. The initiative is part of Egypt’s long-term energy strategy, which targets 42% renewable energy in its electricity mix by 2030 and 65% by 2040.