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Egypt Inks Deals for 5,200-MW Renewable Energy Projects

Egypt signed MoUs for 5,200 MW of renewable energy projects, including wind and solar. Coupled with milestones like the Benban Solar Park and Gulf of Suez Wind Farm, Egypt aims for 42 percent renewable energy by 2030, advancing sustainability goals.

November 15, 2024. By EI News Network

Egypt’s renewable energy ambitions took a significant leap forward as Prime Minister Mostafa Madbouly oversaw the signing of two memorandum of understanding (MoUs) for 5,200 MW of renewable energy projects. The new ventures include 3,100 MW from wind energy and 2,100 MW from solar energy, reflecting the country’s dedication to sustainable development.

The first agreement, signed by the Egyptian Electricity Transmission Company (EETC) and the New and Renewable Energy Authority (NREA) with Alcazar Energy, initiates studies for a 2-GW wind project. The second MoU, involving the Voltalia-Taqa Arabia alliance, outlines plans for 1.1 GW of wind energy and 2.1 GW of solar energy. These projects will conduct comprehensive studies on wind and solar conditions, bird migration patterns, and environmental impacts.

These agreements complement Egypt's recent achievements in renewable energy. The 250 MW Gulf of Suez Wind Farm, operational since 2023, marked a milestone in wind energy, supplying power to over 400,000 homes. Meanwhile, the Benban Solar Park, one of the world’s largest, contributes 1.65 GW of solar power and has been pivotal in reducing Egypt’s reliance on fossil fuels.

Egypt is targeting renewable energy to account for 42 percent of its energy mix by 2030 and over 60 percent by 2040. Other notable developments include plans for green hydrogen projects in collaboration with international partners and scaling up battery energy storage systems to stabilise its renewable energy grid.

These combined efforts position Egypt as a regional leader in clean energy, advancing its vision for sustainability and energy independence..

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