Egypt has taken a major step toward its ambitious green energy goals by signing new deals worth a combined $1.8 billion with international partners.
The agreements, which involve Norwegian developer Scatec and China’s Sungrow, are designed to significantly boost the country’s solar power and energy storage capabilities.
This move is a critical part of Egypt’s broader strategy to have renewable sources account for 42% of its electricity generation by the year 2030.
The centerpiece of the agreement is a new solar energy plant to be built by Scatec in Upper Egypt, which will generate 1.7 gigawatts of electricity and be supported by a massive 4 gigawatt-hour battery storage system.
Complementing this, Sungrow will construct a factory in the Suez Canal Economic Zone to manufacture the energy storage batteries, a portion of which will be supplied directly to the new solar project.
These projects are underpinned by long-term power purchase agreements, solidifying a large-scale investment in Egypt’s sustainable future.
