$124.5 billion... volume of global investments in wind energy

Considering solar energy, wind energy, and other renewable and clean technologies, they represent immediate solutions to energy and climate crises, and can provide great assistance in facing food and water crises.

After the official end of the activities of the huge global event represented by the 27th session of the Conference of the States Parties to the United Nations Framework Convention on Climate Change (COP27) in Sharm El-Sheikh, global investments in wind energy increased.

It can be said that global investments in wind energy (including new projects and refinancing) increased during the first half of 2022, as their value exceeded $124.5 billion, an increase of about $26.6 billion over the first half of 2021.

investments in China

 According to the OAPEC Third Quarter 2022 Global Petroleum Situation Report, the value of investments in China, the largest wind energy market in the world, amounted to about $57.8 billion during the first half of 2022, an increase of 107% year-on-year. It was followed by the United States of America with about $19.7 billion, an increase of 9% compared to the first half of the previous year.

Wind energy investments in the Asian region

Overall, wind energy investments in the Asia-Pacific region reached an all-time high of $66.8 billion, up 72% from the previous year. While investments in Europe, the Middle East and Africa declined by 7%, while investments in North, Central and South America stabilized at the same level as the previous year, which is $25.7 billion.

The total value of investments in onshore wind energy

The report added that the total value of investments in onshore wind energy during the first half of 2022 amounted to about $92.4 billion, which is the highest level ever recorded during the first half of any year. The Asia-Pacific region contributed the largest part of this growth, as China alone accounted for. 44% of the total. The value of investments in offshore wind energy increased by 52% year-on-year, to about $32 billion. Investments in the Chinese Yangjiang Yangxi Shapa Qingzhouwu offshore wind farm with a capacity of 1,000 megawatts are the largest during the first half of 2022, with a value of $2.1 billion.

Emirati investments

The director of the Department of Asset Management, Technology and Green Hydrogen, at the Emirati company, "Masdar", Mohamed Abdel Qader Al-Ramahi, revealed the details of the agreement to establish a wind energy project in Egypt at an amount of $ 11 billion.

He explained that during the first day of the COP27 Climate Summit in Sharm El-Sheikh, Egypt, it was announced that a 10-megawatt project agreement had been signed, using wind energy, and this helps Egypt meet its energy needs, and provides Egypt with 5 billion cubic meters of natural gas, which can be exported. later.

He pointed out that the implementation period of the project lasts about 5 years, with investments amounting to 11 billion dollars, and by this partnership we mean the creation of local content aimed at supporting local partnership and employing the local workforce, as it creates 10,000 jobs in the Egyptian market, in addition to 30,000 job opportunities. During the project implementation period, we are keen to work with Egyptian companies specialized in this field.