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Egypt signs 2.15 GW worth of renewables agreements: Egypt’s Electricity Transmission Company (EETC) has signed multiple renewable energy agreements totalling 2.15 GW capacity with 1.1 GW of storage systems, according to a cabinet statement released on Thursday.
#1- A big day for Scatec: Norwegian renewables developer Scatec signed a 25 year power purchase agreement worth USD 600 mn with the EETC for the country’s first hybrid battery storage project with 1 GW solar and 100 MW battery storage system, according to a press release. Scatec will handle Engineering, Procurement & Construction, Asset Management, and Operations & Maintenance for the project. The agreement was denominated in USD, the company said, without disclosing its value.
What’s next? Scatec is working on finalizing the land lease agreements, grid connection agreements, and financing as it prepares to begin construction. The company expects to close on concessional financing from development financing institutions in 1H 2025.
There’s more: Two land use agreements were inked for solar and wind energy facilities to support Scatec, the Sovereign Fund of Egypt, and Orascom Construction’s Ain Sokhna green hydrogen project. Fertiglobe recently secured a EUR 397 offtake agreement with Germany to supply green ammonia from the facility from 2027-2033.
#2- OC-Led consortium sets the wheels in motion on wind farm expansion: A consortium of Orascom Construction, Toyota Tsusho, and Engie inked a land usufruct agreement and a PPA with the EETC and the New and Renewable Energy Authority (NREA) for a project that will see the consortium add 150 MW of wind energy capacity to its 500 MW wind farm in the Gulf of Suez, according to the cabinet statement.
The timeline: The first 250 MW phase of the wind project is expected to go live in the last month of the year, begin feeding the national grid by Q3 2025, and wrap up the 150 MW extension by 3Q 2025, the company said in a statement (pdf).
#3- Amea Power secures two landmark projects in Egypt: UAE-based Amea Power inked power purchase agreements to develop and expand solar and battery energy storage system projects in Egypt, it said in a press release. The company will pour USD 800 mn in investments into the two projects, which together can power some 769k homes in Egypt, cutting carbon emissions by 2.3 mn tons per year, the statement added.
A new project: The company will develop Abydos 2, 1 GW facility with a 600 MWh battery energy storage system, in Benban, Aswan. The battery system will be the first utility-scale project of its kind in the country. No details on the timeline of the project have been disclosed.
An add-on to Abydos 1: Amea Power will also add a 300 MWh battery energy storage system to its 500 MW Abydos solar project in Kom Ombo.
Background: Amea Power previously received approval from the Egyptian cabinet to expand its renewable energy projects in Egypt by 2 GW by next summer. The company is seeking to up its investments in Egypt and set up 2.5 GW worth of solar and wind projects.
AMEA Power ❤️ Egypt: The new projects add to AMEA Power’s current portfolio, which includes the 500 MW Abydos Solar PV Project set for commissioning in October 2024 and the 500 MW Amunet wind project due by mid-2025.
