Egypt to develop 4.32 GW solar, battery projects using local-currency financing
Egypt is moving ahead with plans to develop 2,320 megawatts of solar power capacity and 2,000 megawatt-hours of battery storage using local-currency financing, the electricity ministry said on Thursday.
The projects were discussed during a meeting between Electricity and Renewable Energy Minister Mahmoud Esmat and Bahaa El Ghannam, executive director of the Future of Egypt Authority for Sustainable Development, according to a ministry statement.
The developments include a 2,000-megawatt solar power plant and a 2,000-megawatt-hour battery energy storage facility in Nagaa Hammadi, as well as a 320-megawatt solar project in the Oases region. The facilities are expected to be connected to Egypt’s national electricity grid next year.
The officials also reviewed plans to expand grid-connected and standalone battery storage projects to improve network reliability and support rising electricity demand, particularly during peak consumption periods.
Esmat said the projects are being implemented in line with presidential directives to expand investments in solar, wind, and energy storage using local-currency financing, while supporting the country’s energy transition goals.
The discussions also covered the electricity infrastructure required to support the Future of Egypt Authority’s agricultural reclamation and agro-industrial projects, which form part of broader efforts to expand agricultural production and strengthen food security.
El Ghannam said renewable energy projects represent a key component of the agency’s development plans, providing sustainable power supplies for agricultural, industrial, and food production activities.
Egypt aims to raise the share of renewable energy in its electricity generation mix to 45 per cent under its national energy strategy. It has accelerated investments in solar, wind, and battery storage projects to reduce reliance on fossil fuels and attract private-sector participation.
Attribution: Amwal Al Ghad English