The Cabinet has approved granting golden licenses to two companies developing wind power projects with a combined capacity of 1.8 gigawatts (GW) in the Gulf of Suez and Ras Shokeir areas, as part of efforts to expand renewable energy capacity and attract private investment.

The approvals were granted during the Cabinet’s weekly meeting and cover Shadwan Wind Energy and Shokeir Wind Energy, both Egyptian joint-stock companies.

Shadwan Wind Energy’s project involves the construction, generation, management, operation, and maintenance of a 900-megawatt (MW) alternating-current (AC) wind power plant in Ras Shokeir, Red Sea Governorate. The project is scheduled for completion by March 31, 2028, and will sell its electricity to the Egyptian Electricity Transmission Company (EETC).

The project is expected to create around 2,500 jobs for engineers, workers, and technicians during construction, followed by 50 permanent operational jobs over its 25-year operating period. Priority will be given to workers from the Red Sea Governorate and neighboring governorates, said the Cabinet.

The second approval covers Shokeir Wind Energy’s 900-MW project in the Gulf of Suez. The project will follow a build-own-operate (BOO) model and involve the design, construction, management, operation, and maintenance of wind power generation plants.

The Cabinet said the projects would contribute to reducing greenhouse gas emissions and supporting companies undertaking strategic and national projects, particularly in renewable energy, through partnerships with the private sector.

The Golden License is considered a government mechanism designed to simplify investment procedures by allowing eligible companies to obtain one Cabinet-issued approval to establish, operate, and manage a project, rather than securing multiple approvals separately from different government authorities.