Masdar signs a land access deal for a 10 GW Egyptian wind project. Goldwind acquires GE's idle Brazilian wind turbine factory. Canadian pension fund CDPQ faces hurdles deploying energy transition capital in Asia. Sweden's EQT moves to acquire renewable developer OX2 for $1.5 billion.

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Allen Hall: I'm Allen Hall, president of Weather Guard Lightning Tech. And I'm here with the founder and CEO of IntelStor, Phil Totaro and the chief commercial officer of Weather Guard, Joel Saxum. And this is your News Flash. News Flash is brought to you by our friends at IntelStor. If you want market intelligence that generates revenue, then book a demonstration of IntelStor at IntelStor. com.

Renewable energy major, Masdar, is joint venture Infinity Power and partner Hassan Alam Utilities have signed a land access agreement with the Egyptian government for a massive 10 gigawatt onshore wind project. The deal provides the consortium with over 3, 000 square kilometers of land in West Suhag to conduct necessary studies and surveys to advance the project.

When completed, this wind farm is expected to generate nearly 48, 000. thousand gigawatt hours annually, reducing Egypt's carbon emissions by 9 percent and helping the country achieve its 42 percent renewable power target by 2030. It could also save Egypt an estimated 5 billion per year in natural gas costs.

Phil Masdar, once again, doing amazingly large projects.

Philip Totaro: Yes, and this thing is going to involve a significant amount of investment. And Mastar's the type of company that hasn't shied away from sourcing turbines from China, for instance. So this could end up being a big deal for Envision or Goldwind.

Egypt right now has, I think about 1. 6 gigawatts of wind operational, pretty much all along the the Suez Canal and the Red Sea. But this is, taking advantage of an ample amount of space that still exists out there and reasonably close proximity to to Cairo, where I think a lot of the power will end up getting piped into.

Fantastic news, again, to see, in general development in Africa. And we'll see how this evolves in terms of, what they line up as far as the supply chain players that are going to be a part of this.

Joel Saxum: If I was to recommend anything to anybody from Mazdar in the development phase or Hasan Alam in these, in, while they're planning this, Do a really good study on leading edge protection because you're going to need it.

Philip Totaro: Sand and wind turbine blades don't mix.

Allen Hall: Chinese wind turbine manufacturer Goldwind Technology has completed its acquisition of a wind turbine factory in Brazil from General Electric. The plan has been idle since 2022 when GE had left the company. Brazil by producing turbines at this facility, Goldwyn can meet local content requirements set by Brazil's largest financing bank, BNDES enabling wind farm developers to secure long term financing.

Goldwyn plans to begin mass production at the factory by the end of 2024 and aims to capture 25 to 30 percent share of Brazil's new wind turbine market in the coming years. Phil, a lot of moving pieces in Brazil at the moment with a Goldwyn entering and GE and others exiting Brazil.

Philip Totaro: There are. But Brazil's a bit of a challenging market at this point.

Goldwind thankfully at least has some projects that they've already secured the rights to and everything where...