A Memorandum of Understanding was signed on 27 December at the government headquarters between the New and Renewable Energy Development and Utilization Authority (NREDUA); Egypt Electricity Holding Company (EEHC); and China Electric Power Equipment and Technology. The MoU concerns conducting preliminary studies and measurements to develop a 10-gigawatt solar energy project.
Representing NREDUA was its CEO, Mohamed al-Khayyat; Gaber Dessouki, represented EEHC in his capacity as its Chairman; and Yu Jun, President of China Electric Power Equipment and Technology, represented his company.
Attending the signing ceremony were Prime Minister Mostafa Madbouly, and Minister of Electricity and Renewable Energy, Mohamed Shaker.
The solar energy project will produce about 29,784 gigawatts per hour of clean energy annually, which will contribute to reducing about 14 million tons of carbon dioxide emissions.
The project comes within the framework of Egypt’s Green Corridor Initiative, and upon completion, the project will save an estimated USD1 billion annually in natural gas costs. Egypt’s Green Corridor initiative is a grid dedicated to renewable energy projects, and will contribute to Egypt’s goal of ensuring renewable energy which will make up 42 per cent of its energy mix by 2035.
The Minister of Electricity and Renewable Energy said that Egypt has adopted an ambitious plan to maximise the use of new and renewable energy resources and encouraging the foreign and local private sector to invest in this field. This would contribute to reducing the use of fossil fuels, and reducing carbon emission, Mr Shaker said. This is in line with the State’s Green Corridor initiative, in addition to the integration with the National Climate Strategy 2050 to ensure facing the challenges of climate change, and achieving sustainable economic growth.
The solar energy project, Mr Shaker said, underscores Egypt’s potentials in the field of renewable energy, including the vast lands that could cater for the huge production of power from renewable energy, let alone Egypt’s geographical location which enables it to become a hub of green energy that could export it to the world.
Watani International
28 December 2023