These projects are the Red Sea project of the (Orascom - Engie - Toyota) alliance, the Amont Al Nowais project, the ACWA Power project, and the Masdar project.
Minister of Electricity and Renewable Energy, Mahmoud Esmat, pointed out that wind energy projects with a total capacity of up to 3,450 megawatts are being implemented.
These projects are the Red Sea project of the (Orascom - Engie - Toyota) alliance, the Amont Al Nowais project, the ACWA Power project, and the Masdar project.
The Minister of Electricity added that solar energy projects with a total capacity of up to 3,700 megawatts are being implemented, including Abydos 1 and 2 projects, SCATEC, and Masdar.
This came during the meeting of the Supreme Council of Energy, which is headed by Prime Minister, Mostafa Madbouly.
He pointed out that negotiations have been made with developers of solar energy projects to introduce a battery storage system, to benefit from the energy generated by solar stations at peak times.
Esmat explained that the negotiations resulted in the developers implementing battery storage systems with a total capacity of 2,840 megawatt-hours attached to those projects being implemented.
In this context, minister Esmat referred to the cooperation with the Ministry of Planning and Economic Development to secure financing for network-strengthening projects to connect and unload renewable energy projects by the summer of 2025.
Esmat pointed to the measures taken to support the private sector to invest in renewable energy projects.
Egypt has been allocated land to the New and Renewable Energy Authority to establish renewable energy projects, including green hydrogen production projects, Esmat added.
The incentive package comprises offering land for project establishment in return for a 2% share of yearly electricity production, along with cutting customs duties on renewable energy system components and spare parts to 2% from 5%, and reducing the value-added tax to 5% from 14%.
