CAIRO – 14 November 2024: The Egyptian government has signed two Memorandums of Understanding (MoUs) with Alcazar Energy and the Voltalia-Arabia alliance to generate 5.2 GW of electricity through renewable energy sources under a Build, Own, Operate (BOO) framework. The projects will consist of 3.1 GW of wind energy and 2.1 GW of solar energy.
These agreements bring together the Egyptian Electricity Transmission Company (EETC), the New and Renewable Energy Authority (NREA), and Alcazar to initiate studies for a 2 GW wind power project.
Additionally, another MoU with the Voltalia-Arabia alliance will begin research on 1.1 GW of wind and 2.1 GW of solar power, marking Egypt’s first combined solar and wind energy project, which will be implemented in phases.
The studies will assess wind speed and direction, bird migration, solar radiation, and geotechnical, topographical, and environmental conditions.
This partnership aligns with Egypt’s strategic shift toward renewable energy and aims to increase private sector involvement in sustainable power initiatives.
Mahmoud Esmat, Egypt’s Minister of Electricity and Renewable Energy, highlighted the crucial role of renewable energy in decreasing carbon emissions, diversifying Egypt’s energy sources, and advancing the nation’s renewable energy objectives. This vision leverages Egypt’s natural resources to reduce fossil fuel reliance and cut emissions.
Esmat also outlined plans to incorporate battery storage systems to optimize energy usage and enhance grid stability, especially during peak demand times. He emphasized the private sector’s pivotal role in clean energy projects and noted the ministry’s commitment to fostering both local and foreign private investments in renewable energy.
The Minister further highlighted ongoing partnerships with domestic and international entities to bring expertise and advanced technology to Egypt’s renewable energy, energy efficiency, and consumption monitoring sectors.
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