CAIRO: Dr. Mostafa Madbouly, the Prime Minister, attended the signing ceremony of two Memoranda of Understanding (MOUs) focused on the production of electricity from renewable energy sources, specifically solar and wind, under the Build, Own, Operate (BOO) model. The projects aim for a total capacity of 5,200 megawatts, with 3,100 megawatts from wind energy and 2,100 megawatts from solar energy, marking a significant step forward in Egypt’s renewable energy goals.

According to State Information Service Egypt, the signing event took place at the Cabinet headquarters in the New Administrative Capital, with the presence of Engineer Mahmoud Asmat, the Minister of Electricity and Renewable Energy. The MOUs align with the national strategy for integrated and sustainable energy, which targets an increase in the renewable energy share of the national energy mix to over 42% by 2030 and more than 60% by 2040. This strategy reflects global advancements in renewable energy technologies, energy storage systems, and the n
ew shift towards green hydrogen.

The first MOU involves the Egyptian Electricity Transmission Company (EETC) and the New and Renewable Energy Authority (NREA) partnering with Alcazar Energy to initiate studies for a wind energy project with a capacity of 2 gigawatts. The agreement was signed by Engineer Mona Rizk of EETC, Dr. Mohamed El-Khayat of NREA, and Mr. Daniel Calderon of Alcazar Energy, with several officials from the Ministry of Electricity in attendance.

The second MOU, involving the Voltalia-Taqa Arabia consortium, will explore the generation of 1.1 gigawatts from wind energy and 2.1 gigawatts from solar energy. This project is notable for being Egypt’s first to combine solar and wind renewable sources and will be implemented in phases. Signatories included Engineer Mona Rizk, Dr. Mohamed El-Khayat, Engineer Karim Al-Azzawi of Voltalia, and Engineer Bakenam Kafafi of Taqa Arabia, with Mr. Eric Chevallier, the French Ambassador to Egypt, and consortium officials present.

The studies associated wi
th these projects will assess factors such as wind speed and direction, bird migration patterns, solar radiation levels, and various environmental aspects. These efforts are part of a broader national plan to transition from fossil fuels to renewable energy and to encourage private sector involvement in this transition.

Minister Mahmoud Asmat emphasized the strategic importance of expanding renewable energy use, reducing carbon emissions, and diversifying energy sources. He outlined Egypt’s plan to increase renewable energy’s share in the electricity mix and utilize the country’s natural resources to reduce fossil fuel reliance. The integration of energy storage systems, such as batteries, aims to enhance the stability of the electricity grid, particularly during peak usage times.

The minister also highlighted the crucial role of the private sector in renewable energy projects, noting ongoing collaborations with local and international partners. These partnerships aim to leverage expertise and technology in
renewable energy, energy efficiency, and resource management. Additionally, efforts are underway to improve services within the electricity sector and localize the manufacture of electrical equipment as part of the strategy to boost renewable energy’s contribution to the energy mix.