Egypt signs renewable energy deals worth $1.8 billion
Baku, January 12, AZERTAC
Egypt has signed renewable energy deals worth a combined $1.8 billion, Reuters reported citing the Egyptian state TV.
Among the deals were contracts with Norwegian renewable energy developer Scatec and China's Sungrow.
Egypt hopes to have renewable energy reach 42% of its electricity generation mix by 2030, but officials say the goal will be at risk without more international support.
The first project will be the construction by Scatec of a solar energy plant to generate electricity and energy storage stations in Upper Egypt's Minya, an Egyptian cabinet statement said.
It would have a generation capacity of 1.7 gigawatts supported by battery storage systems with total capacity of 4 gigawatt hours.
A second project will be a Sungrow factory to manufacture energy storage batteries at the Suez Canal Economic Zone. A share of the factory's output would be supplied to the first project, the cabinet said.
The deals also include power purchase agreements, with Scatec signing a deal for total capacity of 1.95 gigawatts and 3.9 gigawatt hours of battery storage systems, the Norwegian company said in a statement.
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