1. ecosecurities and RGWE have transitioned the first wind energy project in Egypt from the UNFCCC’s Clean Development Mechanism to the Gold Standard methodology ACM0002.
2. RGWE, with an installed capacity exceeding 260 MW, has been supplying clean electricity to around 500,000 Egyptian households since reaching full capacity in December 2019.
3. Egypt’s renewable energy goals align with its Integrated Sustainable Energy Strategy, aiming for 42% of electricity generation from renewables by 2035 and a 37% reduction in emissions in the electricity sector.
Ecosecurities and Ras Ghareb Wind Energy S.A.E. have collaborated on the first wind energy project in Egypt to transition from the UNFCCC’s Clean Development Mechanism (CDM) to the Gold Standard. Located on the Gulf of Suez, the project boasts an installed capacity exceeding 260 MW and has been supplying clean electricity to around 500,000 Egyptian households since reaching full capacity in December 2019. In 2022, the wind farm generated over 1 million carbon credits.
Egypt has ambitious renewable energy goals, aiming to generate 42% of electricity from renewables by 2035 and reduce emissions by 37% in the electricity sector currently dominated by fossil fuels. The government also aims to position itself as a key global player in the green hydrogen sector, leveraging its abundant renewable energy resources such as sun and wind.
RGWE CEO Anthony Watson and ecosecurities CEO Pablo Fernandez expressed their excitement for the successful registration of the project with the Gold Standard and the issuance of 1 million carbon credits. Projects like RGWE play a crucial role in accelerating global net-zero transformations and align with the guidance from the Science Based Targets initiative to support Beyond Value Chain Mitigation targets. The Spring 2024 issue of Energy Global magazine covers more news and technical articles from the renewable energy industry.