The Egyptian Ministry of Electricity and Energy plans to add 3 gigawatts of solar and wind power to the national grid by the summer of 2025, according to a government official who spoke to Asharq Business. Private sector companies will carry out all these projects under a build, own, operate (B.O.O.) model.
This means that the investor will finance, build, operate, and own the project, provided that the Egyptian Electricity Transmission Company (EETC) would purchase all the electricity generated from these renewable energy projects for the entire lifespan of the plants, he added.
The lifespan of the plants reaches about 20 years for solar power and 25 years for wind power.
The projects include a 500-megawatt (MW) solar power plant by Norway’s Scatec and a 1,000-MW solar project by the UAE-based AMEA Power, which will be built in two phases of 500 MW each, the official said.
Additionally, a 650-MW wind farm will be developed by a consortium of Orascom Construction, Japan’s Toyota Tsusho, and France’s Engie, alongside another 200-MW wind farm by Saudi Arabia’s ACWA Power, he mentioned.
In addition to this, companies will also implement 600 MW of solar projects, with the specific companies yet to be disclosed. The official stated that these projects will involve investments exceeding $2.5 billion, with most of them located in Ras Ghareb, near Hurghada, and in Aswan.
