Egypt and the United Arab Emirates (UAE) have signed several Memoranda of Understanding (MoUs) to strengthen cooperation in RE and industrial development. The agreements are set to promote sustainable economic growth and create new opportunities for investment in sectors, including industry and renewable energy generation.
The signing ceremony was attended by officials from both countries, including Mostafa Madbouly, Prime Minister of Egypt, Sultan Al Jaber, Minister of Industry and Advanced Technology, and Kamel Al Wazir, Deputy Prime Minister for Industrial Affairs and Egypt’s Minister of Industry and Transport.
The MoUs include agreements to build two plants for solar cells and solar panels, each with a capacity of 2 GW, as well as a battery energy storage facility with an initial capacity of 2 GW. Furthermore, the agreements cover the development of a joint UAE-Egypt industrial zone in East Port Said, which will attract domestic and international investments in industries such as renewable energy, manufacturing, and advanced technologies.
The agreements also focus on clean energy initiatives, including the study of a 900 MW solar power plant in the Dakhla Oasis and a 300 MW solar plant in Benban, Aswan Governorate, both equipped with energy storage systems. Additionally, plans include a 3 GW floating photovoltaic solar plant on Lake Nasser and a 2 GW solar plant in northern Naga Hammadi.
The development of the UAE-Egypt industrial zone in East Port Said will cover an area of 20 square kilometers and is architected to attract investments in these industries. The agreements also include the establishment of two plants in partnership between Global South Utilities (GSU) and Industrial Modernisation Centre (IMC) to produce solar cells and solar panels with a capacity of 2 GW each. Additionally, two MoUs were signed for energy storage plants, including a plant with a capacity of 2 GW and another to explore the establishment of an additional battery storage production facility.
Masdar, Infinity Power, and Hassan Allam Utilities signed an agreement with the Egyptian Electricity Transmission Company to aid Egypt’s renewable energy initiatives, including two power purchase agreements (PPAs) for the establishment of solar plants with a capacity of 1.2 GW and BESS with a capacity of 720 MWh.
The development of a floating photovoltaic solar plant on Lake Nasser, with a capacity of up to 3 GW, is also part of the agreements. This project is expected to significantly support Egypt’s efforts to rely on sustainable energy solutions and capitalize on the vast potential of Lake Nasser to enhance energy security in Egypt.
