Cairo, Jan 12 – Egypt has signed renewable energy agreements valued at about $1.8 billion, marking a fresh step in the country’s effort to scale up clean power generation and reduce reliance on fossil fuels.
The deals include projects with Norway’s Scatec and China’s Sungrow, according to state television and an Egyptian cabinet statement. The agreements cover large-scale solar generation, battery storage, and local manufacturing of energy storage systems.
Under the first project, Scatec will build a solar power plant and energy storage facilities in Minya, in Upper Egypt. The project will have a generation capacity of 1.7 gigawatts, supported by battery storage systems with a total capacity of 4 gigawatt hours.
A second agreement involves Sungrow establishing a factory to manufacture energy storage batteries at the Suez Canal Economic Zone. Part of the factory’s output will be supplied directly to the Minya solar and storage project, the cabinet said.
The package of agreements also includes power purchase contracts. Scatec said it signed power purchase agreements covering a combined capacity of 1.95 gigawatts of solar generation and 3.9 gigawatt hours of battery storage.
Egypt aims to raise renewable energy to 42% of its electricity generation mix by 2030. Officials have warned that achieving the target will require continued international financing and technology partnerships as power demand continues to rise.
