Egypt Signs $1.8 Billion Renewable Energy Deals

Egypt Signs $1.8 Billion Renewable Energy Deals Egypt Signs $1.8 Billion Renewable Energy Deals
Egypt signs $1.8 billion renewable energy deals. Credit: LBCILebanon

Egypt has signed renewable energy agreements totalling $1.8 billion, state television reported on Sunday.

According to Reuters, the deals include contracts with Norwegian developer Scatec and China’s Sungrow, as the country seeks to expand its clean energy capacity.

Officials said the agreements aim to help Egypt reach a target of 42% renewable energy in its electricity generation mix by 2030, though they noted the goal could be at risk without additional international support.

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Egypt Signs $1.8 Billion Renewable Energy Deals
Egypt signs $1.8 billion renewable energy deals. Credit: AtlanticCouncil

According to an Egyptian cabinet statement, Scatec will build a solar energy plant in Minya, Upper Egypt, alongside energy storage facilities. 

The project is expected to have a generation capacity of 1.7 gigawatts and battery storage systems totalling 4 gigawatt hours.

Sungrow will establish a factory in the Suez Canal Economic Zone to produce energy storage batteries, with part of the output slated to supply the Minya project.

The agreements also include power purchase arrangements.

According to a company statement, Scatec confirmed that it has signed a deal for a total capacity of 1.95 gigawatts and 3.9 gigawatt-hours of battery storage systems.

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