Arab Finance: The Cabinet, headed by Prime Minister Mostafa Madbouly, has granted a golden license to the Shadwan and Ras Shokeir wind power projects, according to a statement.

The Shadwan facility involves the development, construction, management, operation, and maintenance of a 900-megawatt (MW) wind power plant. The generated electricity will be sold to the Egyptian Electricity Transmission Company (EETC).

The project, expected to help reduce greenhouse gas emissions, is scheduled for completion on March 31, 2028.

It is anticipated to create 2,500 job opportunities during construction, followed by 50 jobs during its 25-year operational phase. Priority for employment will be given to residents of the Red Sea and neighboring governorates.

Meanwhile, the license granted to the Ras Shokeir project in the Gulf of Suez will cover the design, construction, management, operation, and maintenance of wind power generation plants with a capacity of 900 MW. The project will operate under a build-own-operate (BOO) model, with electricity sold to the EETC.

Expected to be completed on November 1, 2028, the venture is projected to secure around 800 jobs for engineers, technicians, and workers during its 24-month construction phase, followed by 25 jobs throughout its 25-year operational period.

Both projects back the government’s efforts to attract private-sector investment into national projects, particularly in renewable energy, to drive economic development and expand clean electricity generation.