The offer includes establishing stations with a total production capacity of about 1,000 megawatts, and these projects will be established in Upper Egypt, including the Aswan Governorate.
The Egyptian Ministry of Electricity and Renewable Energy approved the offer submitted by Emirati Company Masdar to establish stations to generate electricity from solar energy with investments exceeding $900 million, according to a government official who spoke to Asharq Bloomberg.
The offer includes establishing stations with a total production capacity of about 1,000 megawatts, and these projects will be established in Upper Egypt, including the Aswan Governorate.
The source added that the projects will be implemented under the build-own-operate (BOO). The Egyptian Electricity Transmission Company will commit to purchasing the entire production from the projects over the station's life, which reaches about 25 years.
The final contracts for the projects and the energy purchase price are being reviewed in preparation for signing the relevant agreements by next October between the New and Renewable Energy Authority (NREA), the Egyptian Electricity Transmission Company, and the Emirati company on the other hand.
The NREA will allocate the land for the project with a usufruct system in exchange for 2% of the energy produced from the project.
Masdar will complete these projects and connect them to the national electricity grid before the end of 2025, including generating electrical energy using solar panels.
It is expected that the company will choose an Egyptian partner in the projects to carry out civil works during the projects’ implementation period.
