UAE to implement 1,000MW solar energy project in Egypt

The Egyptian Ministry of Electricity and Renewable Energy has greenlit a proposal by Emirati firm Masdar to establish solar energy stations with investments surpassing $900 million.

 

These stations, with a combined capacity of around 1,000 megawatts, will be set up in Upper Egypt, notably in the Aswan Governorate.

 

Operated under a build-own-operate (BOO) model, the projects will see the Egyptian Electricity Transmission Company committing to purchasing the entire output over the stations' 25-year lifespan.

 

Contracts and pricing details are currently under scrutiny for finalization, with agreements slated for signing by October involving the New and Renewable Energy Authority (NREA), the Egyptian Electricity Transmission Company, and Masdar.

 

NREA will provide land under a usufruct system in return for 2% of the project's energy output.

 

Masdar aims to finish these ventures and integrate them into the national grid by the close of 2025, utilizing solar panels for electricity generation.

 

The company is anticipated to collaborate with an Egyptian partner for civil works during the implementation phase.