Cairo: Egypt has signed renewable energy agreements worth a combined USD 1.8 billion, marking a major step toward expanding clean power generation and energy storage capacity, state television reported on Sunday.
The deals include contracts with Norwegian renewable energy developer Scatec and China’s Sungrow, covering large-scale solar power generation, battery energy storage systems and local manufacturing.
Under one of the key agreements, Scatec will construct a 1.7-gigawatt solar power plant in Minya, Upper Egypt, supported by battery energy storage systems with a total capacity of 4 gigawatt-hours, according to an Egyptian cabinet statement. The project will also include energy storage stations aimed at enhancing grid stability and reliability.
In a parallel development, Sungrow will establish a battery energy storage manufacturing facility in the Suez Canal Economic Zone. Part of the factory’s output will be dedicated to supplying battery systems for the Minya solar project, the cabinet said, supporting local value addition and strengthening Egypt’s clean energy supply chain.
The agreements also encompass power purchase arrangements, with Scatec signing contracts for a total capacity of 1.95 gigawatts of renewable power and 3.9 gigawatt-hours of battery storage, the company said in a separate statement.
Egypt aims to increase the share of renewable energy to 42 per cent of its electricity generation mix by 2030, though officials have cautioned that achieving this target will require greater international financial and technical support. The latest deals are expected to significantly advance Egypt’s renewable energy ambitions while boosting investment, technology transfer and domestic manufacturing.
By Reuters
