Egypt, UAE’s Masdar sign landmark solar energy MoUs

Future of Egypt for Sustainable Development Authority signed on Wednesday memoranda of understanding with Abu Dhabi Future Energy Company (Masdar) to carry out two groundbreaking solar energy projects in Upper Egypt.

The agreements, signed in the presence of Prime Minister Moustafa Madbouly, will see the development of a 5 GW floating solar power plant on Lake Nasser and a 2.8 GW solar energy facility in Nagaa Hammadi.

The collaboration aims to expand Egypt’s renewable energy capabilities, ensure energy security, and reduce long-term energy costs. Both projects aim to minimise reliance on traditional energy sources while significantly lowering carbon emissions, aligning with Egypt’s and the UAE’s sustainability goals.

Under the agreement, Masdar will lead the development of Lake Nasser’s 5 GW floating solar power plant in two phases: with an output capacity of 2 GW in the first phase and 3 GW in the second phase —and a 2.8 GW solar energy project in Nagaa Hammadi. It will also lead the development of Nagaa Hammadi’s 2.8 GW solar energy project.

Upon completion, the floating solar plant on Lake Nasser is expected to be the largest of its kind worldwide.

Attribution: The Egyptian Cabinet