Egypt boosts renewable energy with $800m projects

Egypt signed new renewable energy projects agreements totalling over $800 million that involve the production of electricity from renewable sources with a total capacity of 2,150 megawatts, including 1,100 megawatts from battery storage systems.

The projects align with Egypt’s national energy strategy, aiming to increase renewable energy’s share to 42 per cent by 2040, and include:

Benban Solar Project (Abydos 2): A 1,000 MW solar farm with 600 MWh of battery storage in Aswan, to be developed by Egypt’s New and Renewable Energy Authority, the Egyptian Electricity Transmission Company, and UAE’s AMEA Power. The project is set to be Africa’s largest and will generate 2,500 local jobs.

Kom Ombo Expansion (Abydos 1): An additional 300 MW of battery storage for an existing 500 MW solar project in Aswan, bringing the total investment to over $800 million.

Wind Energy Project: A 150 MW wind power addition to the 500 MW ongoing project in the Gulf of Suez by the Orascom, Engie, and Toyota alliance.

Green Hydrogen project: Land agreements for two projects to produce green hydrogen and convert it to ammonia, with an annual capacity of 74,000 tons. This $500 million investment aims for a 2027 start date and will see ammonia exported globally.

Nag’ Hammadi Solar Farm: A 1,000 MW solar project with 600 MWh battery storage in Qena, valued at $600 million. This project will reduce dependence on fossil fuels and create significant local employment.