Egypt PM witnesses inking of land deals to implement two wind electricity projects in Sohag

The government seeks to increase the use of new and renewable energy resources and encourage investments in this promising field, Madbouly said. This approach will contribute to reducing the use of fossil fuel and carbon emissions and achieve the sustainable development goals (SDGs).

Both projects have a production capacity of eight gigawatts of wind energy, Shaker said.

They will be implemented in collaboration with the private sector under a Build-Own-Operate (BOO) system, he added.  

Scatec ASA Company will execute the first project with a production capacity of five gigawatts, while the second project, led by Orascom Construction, targeting the production of three gigawatts, will be executed in several stages in cooperation with the New and Renewable Energy Authority (NREA). 

Shaker added that the foreign direct investments for these projects are estimated at about $9 billion.  

He noted that the two projects are being implemented within the framework of memoranda of understanding (MoU) signed between the developers, from one side, and the Egyptian Electricity Transmission Company (EETC) and the NREA from the other side during COP27 in November 2022.