Egypt’s Ministry of Electricity and Renewable Energy has announced plans to raise the country’s electrical capacity by 750 megawatts through two renewable energy projects by October 2024. With a total investment of $700 million, the projects will significantly contribute to Egypt’s renewable energy and electrical capacity goals.
Orascom Construction, Toyota and Engie have partnered to launch the first project, which is a wind energy farm with a capacity of 250 megawatts. The project is due to launch in August in the Gulf of Suez region near Ras Gharib. In addition, it will be connected to the national electricity grid upon its addition in August.
The second project is a solar energy station with a capacity of 500 megawatts. Emirati company Al Nowais will launch the project in the Aswan Governorate’s Kom Ombo by October.
Egypt’s ministry noted that the Kom Ombo project’s implementation progress has already crossed 75 percent. Under the arrangement, Egypt’s government has committed to purchasing renewable energy from both projects.
Clean energy boost
As Egypt seeks to raise its renewable energy capacity, it has partnered with several key players this year. In early May, Egypt signed agreements for two wind energy projects west of Sohag with foreign direct investments (FDI) totaling almost $9 billion. These projects aim to generate a total wind power capacity of 8 gigawatts (GWs).
In April, Egypt’s Ministry of Petroleum and Mineral Resources revealed plans to build two solar power stations worth EGP1 billion ($20.60 million) with investments from the European Union (EU).
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Egypt accelerates renewable energy agenda
This year, Egypt’s government has accelerated its renewable energy agenda, advancing the goal of generating 42 percent of its power from renewables by 2030. This is five years ahead of the initial target of 2035.
This ambitious objective reflects Egypt’s commitment to sustainable energy solutions and reducing its reliance on traditional fossil fuels. The country’s abundant solar irradiation and vast desert landscapes offer immense renewable energy potential. This positions Egypt as a prime candidate for solar power development.
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