Egypt Announces Plans For Two Substantial New Solar Projects

Egypt have announced that they will be building two new solar power stations over the next year, construction of which will be funded by a financial collaboration with the EU in the form of a grant. This will play a crucial part in their current target to source 42% of their required electricity from renewable options by 2030. The country have shown substantial commitment to supporting the global energy transition through their climate targets, recently bringing the target year forward from 2035 to 2030 and by announcing that they intend to increase the target to 62%.

Egypt is well placed to benefit from solar projects as a result of its geography, providing wide expanses of desert land and high levels of solar irradiation. The Egyptian Ministry of Petroleum and Mineral Resources have released the following details relating to the projects:

The two stations will be built at separate locations, although both in the north of the country. One will be located at Egypt’s Assiut Oil Refining Company and the other at the Egyptian General Petroleum Corporation (EGPC). It is estimated that the combined project will cost just over 1 billion Egyptian Pounds, the equivalent of $20.6 million. It is expected that, once completed, both stations combined will produce a total of 16.5 megawatts of energy.

The funding package, provided by the EU, totals €7.4 billion/$8.1 as part of a ‘strategic partnership’ between the EU and Egypt. Not all of this package will be spent on renewable energy, however these two solar stations herald a huge step forward for Egypt’s renewable energy capacity.

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Sources:

https://economymiddleeast.com/news/egypt-to-build-2-solar-power-stations-with-20-6-million-in-eu-funding/

https://www.reuters.com/sustainability/egypt-build-solar-power-stations-worth-20-mln-2024-04-15/

https://renewablesnow.com/news/egypt-plans-to-boost-2030-renewable-energy-target-to-60-849376/