CAIRO – The construction of one of the world’s largest wind farms in Egypt is set to start in 2024 and could provide electricity to Europe and Saudi Arabia, according to one of the main companies backing the US$11 billion project.
Governments and investors are pouring money into wind and solar plants around the world as they seek to transition away from fossil fuels and limit global warming to 1.5 degrees Celsius above pre-industrial levels. While Infinity Power is able to secure funding for its projects, rising interest rates might lower the firm’s profits, said Mr Mansour.
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