Egypt to implement $750M two renewable energy projects by October

The Egyptian Ministry of Electricity and Renewable Energy has set a target to increase the country’s electrical capacity by 750 megawatts through the development of two wind and solar energy projects by October 2024. 

 

The projects, with a total investment of $700 million, are expected to significantly contribute to Egypt’s renewable energy goals.

 

The first project, a wind energy initiative, will be inaugurated in August and will have a capacity of 250 megawatts. It is being implemented by a partnership between Orascom Construction, Toyota, and Engie in the Gulf of Suez region near Ras Gharib. 

 

The wind energy project will be connected to the national electricity grid upon its addition in August.

 

The second project involves a solar energy station with a capacity of 500 megawatts. This project is being carried out by the Emirati company Al Nowais in the Kom Ombo area of Aswan Governorate. The solar energy station is expected to become operational by October. 

 

The official also noted that the implementation progress of the solar energy station in Kom Ombo has surpassed 75 percent.

 

Under the arrangement, the Egyptian government has committed to purchasing the energy generated by both projects.