Egypt sets sail for renewable future with $9 billion FDI for 8 GW wind projects

Egypt has entered into agreements for two wind energy projects west of Sohag, involving foreign direct investments (FDI) totaling an estimated $9 billion.

According to a statement, the first agreement was signed by Mohamed El-Khayat, chairman of the New and Renewable Energy Authority (NREA), and Terje Pilskog, CEO of Norway’s Scatec ASA.

The second agreement was sealed by Khaled El Degwy, CEO of Orascom Construction, on behalf of a consortium that includes ENGIE from France and Eurus Energy from Japan.

These projects aim to generate a combined wind power capacity of 8 gigawatts (GWs). Scatec is expected to contribute 5 GWs, while the Orascom-led consortium will generate 3 GWs.