New projects bringing Egypt closer to 42% renewable energy goal by 2030

The government of Egypt has approved four new renewable energy projects with an overall installed capacity of 400 MW. These include both solar and wind generators, with each project having a capacity of about 100 MW and private investments totaling an estimated $388 million.

These projects are distinguished by the use of a private energy agreement model, which makes it possible to eliminate the financial burden on the state budget and does not require state guarantees. Instead, commercial companies are given the right to build their own renewable energy facilities and supply electricity to end consumers directly.

For instance, Egypt’s TAQA PV is going to develop a hybrid solar-wind power plant for Ezz Steel, the largest steel producer in the country. Neptune will supply solar power to the steel company Suez Steel. ENARA will use a hybrid installation to power a chemical plant in Helwan and a silicon production complex in El Alamein. The Emirati company Amea Power will supply solar power to the Suez Canal Container Terminal.