At the end of December 2023, China eElectric Power Equipment and Technology and the Egyptian government signed a memorandum of understanding to study the development of a 10 GW solar energy project for the Egyptian government. The signing is part of the Egyptian government’s objective of achieving a 42% share of renewable energy in its energy mix by 2030.
Once completed, the solar power plant is expected to generate around 29,784 GWh of clean energy per year. This will help to reduce annual CO2 emissions by around 14 million tonnes. The solar park is also expected to save Egypt around 1 billion dollars (around 600 billion FCFA) a year in natural gas costs.
The protocol was signed with the New and Renewable Energy Authority (NREA) and the Egyptian Electricity Holding Company (EEHC) and concerns the start of preliminary studies, according to the official press release.
Over the last few years, Egypt has signed a number of agreements with the world’s leading energy groups to develop its solar energy potential, which will help to decarbonise its economy.
As a reminder, according to the international research group ZeroCarbon Analytics, Egypt, along with South Africa and Morocco, is one of the African countries with the largest installed solar capacity.
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