Egypt signs renewable energy deals worth $1.8 billion

Egypt has signed renewable energy contracts reported at $1.8 billion, including a Scatec solar project with battery storage and a Sungrow battery factory in the Suez Canal zone.

Egypt has signed renewable energy deals reported at a combined $1.8 billion, state TV and official statements said. The article mentions contracts involving Norway's Scatec and China's Sungrow. The government has set a target for renewables to reach 42% of electricity generation by 2030 and officials have said that goal will be at risk without more international support. A cabinet statement provided details on projects and related manufacturing plans. Key details: - Total value reported at $1.8 billion. - The article reports Scatec will build a solar plant in Minya with a reported generation capacity of 1.7 gigawatts and battery storage systems totaling 4 gigawatt-hours, according to the cabinet statement. - The article reports Sungrow will establish a factory at the Suez Canal Economic Zone to manufacture energy storage batteries, and that some output would be supplied to the Minya project, the cabinet said. - Scatec also announced power purchase agreements covering 1.95 gigawatts and 3.9 gigawatt-hours of battery storage systems, per the company's statement. - Officials have said the 42% renewables target for 2030 will need more international support to be met. Summary: These agreements add generation capacity and battery manufacturing capacity that align with Egypt’s stated 2030 renewable target. Officials have reported that international support remains important for achieving the goal. Undetermined at this time.