Egypt signs MoUs for 5.2 GW renewable energy projects

The Egyptian Electricity Transmission Company (EETC) signed on Thursday two memorandums of understanding (MoUs) to develop electricity generation from renewable sources (solar and wind) under the BOO (Build-Own-Operate) system, with a total capacity of 5,200 MW.

In a typical BOO project, a government department allows a private company to finance, build, and operate infrastructure project, and the private company retains ownership of the infrastructure in perpetuity.

Of this, 3,100 MW will be from wind energy, and 2,100 MW from solar power.

The signing ceremony, attended by Prime Minister Moustafa Madbouly, marked a significant step towards Egypt’s renewable energy goals.

The first MoU was signed between the Egyptian Electricity Transmission Company (EETC) and the New and Renewable Energy Authority (NREA) on one side and Alcazar firm on the other to initiate studies and measurements for a 2-GW-wind-energy project.

The second MoU was signed with Voltalia and Taqa Arabia consortium to begin studies for a 1.1-GW-wind project and a 2.1-GW-solar project. This will be the first project in Egypt to combine both solar and wind energy sources, with development taking place in stages.

These agreements align with Egypt’s national strategy for integrated and sustainable energy, which aims to increase the share of renewable energy in the power mix to over 42 per cent by 2030 and over 60 per cent by 2040, in line with global advancements in renewable energy technologies, energy storage systems, and the emerging focus on green hydrogen.

Attribution: The Egyptian Cabinet

Subediting: M. S. Salama