Masdar-Led Consortium to Develop 1.2 GW Solar Power Projects in EgyptSource: www.export-egypt.com 11/20/2024, Location: Africa |
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Egyptian Prime Minister Moustafa Madbouly, with Mahmoud Esmat, Minister of Electricity and Renewable Energy Minister, and Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, witness the signing of landmark agreements with a consortium of UAE Masdar, Infinity, and Hassan Allam on Wednesday, November 20, 2024.
Egypt’s Minister of Electricity and Renewable Energy, Mahmoud Esmat detailed the scope of the agreements, which include power purchase agreements for the construction of two solar plants totaling 1.2 GW, alongside advanced energy storage systems with a capacity of 720 MW. The first phase of the projects is scheduled to begin operations and connect to the national grid by July 2025, with the remainder expected to be completed later that year. The projects highlight the government’s commitment to fostering public-private partnerships and encouraging both local and international investment in clean energy, he added. The minister further said the partnership with the Masdar-Infinity-Hassan Allam consortium is a model of strategic collaboration. It introduces advanced battery storage systems, a technology widely adopted globally to stabilize renewable energy networks and optimize power usage, particularly during peak demand periods. |
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