- Egypt has signed deals worth a combined $1.8 billion in a move to achieve a 42 per cent renewable energy target.
- The first project will be the construction by Scatec of a solar energy plant to generate electricity and energy storage stations in Upper Egypt’s Minya.
Egypt has signed deals worth a combined $1.8 billion in a move to achieve a 42 per cent renewable energy target and an electricity generation mix of 42 per cent by 2030, state TV reported on Sunday.
The latest deal surpasses Nigeria’s recent renewable energy deployment agreements, worth $500 million, with five state governments and the Netherlands Development Organisation (SNV), aimed at boosting solar power generation and expanding local production of solar panels and battery storage systems in Nigeria.
As of 2024, Egypt was generating over 35,000 megawatts for a population of 119 million people, as against Nigeria’s 5,300MW for over 200 million citizens.
Among the Egyptian deals were contracts with Norwegian renewable energy developer Scatec (SCATC.OL). But officials say the goal will be at risk without more international support.
The first project will be the construction by Scatec of a solar energy plant to generate electricity and energy storage stations in Upper Egypt’s Minya, an Egyptian cabinet statement said.
It would have a generation capacity of 1.7 gigawatts supported by battery storage systems with a total capacity of 4 gigawatt hours.
A second project will be a Sungrow factory to manufacture energy storage batteries at the Suez Canal Economic Zone. A share of the factory’s output would be supplied to the first project, the cabinet said.
The deals also include power purchase agreements, with Scatec signing a deal for total capacity of 1.95 gigawatts and 3.9 gigawatt hours of battery storage systems, the Norwegian company said in a statement.
The Nigerian agreements, facilitated through the Rural Electrification Agency (REA), were signed with Bayelsa, Ogun, Lagos, Akwa Ibom, Kano, and the Federal Capital Territory. The initiative is expected to add about 3,950 megawatts of renewable energy capacity across the country.