Egypt’s Cabinet approves 4 major solar, storage projects by Kemet for Industries

Egypt’s Cabinet on Wednesday approved four large-scale renewable energy projects to be developed by Kemet for Industries, including solar power plants and a battery storage facility.

The projects include a 320-megawatt and a 400-megawatt solar power plant in Bahariya Oasis, a standalone 2,000-megawatt-hour battery storage facility in Nagaa Hammadi, and a 2,000-megawatt solar power plant, also in Nagaa Hammadi.

The government also approved the signing of agreements between Kemet and the New and Renewable Energy Authority (NREA), as well as Future of Egypt for Sustainable Development, to secure land rights for the projects. Agreements with the Egyptian Electricity Transmission Company (EETC) will cover power purchase arrangements and connection to the national grid.

The projects are expected to be completed and operational by 2027. Payments will be made in Egyptian pounds, and Kemet has committed to a localisation plan to support industries supplying equipment and materials for the renewable energy projects.

Attribution: Amwal Al Ghad English