Egyptian Cabinet Approves UAE Investment in 4GW Solar Energy Station
The project aims to meet the demand for electricity in Egypt, and align with the National Strategy for Climate Change 2050.
The Egyptian Cabinet recently greenlit a proposal from UAE-based energy company Masdar for the collaborative construction of a solar energy station with a 4-gigawatt (GW) capacity.
The Cabinet also approved an additional project with Masdar, Hassan Allam Utilities and Infinity Power for the harnessing of solar energy potentials worth 1,200 megawatts (MW), as well as storage batteries with a combined capacity of 240 megawatt hours.
What is more, Masdar and Infinity Power signed a power purchase agreement with the Egyptian Electricity Transmission Company to provide a long-term source of renewable energy with an onshore wind project in Ras Ghareb, in the Gulf of Suez.
Once complete, the wind farm will be capable of producing 810,000MW per year, and reduce carbon emissions by 403,672 tonnes.
These combined efforts aim to meet the growing demand for electricity in Egypt, in particular for the coming summer, whilst also aligning with the nation’s National Strategy for Climate Change 2050, and Egypt’s Vision 2030.
The timeline of the projects, and the value of investment, remains undisclosed.
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