The Egyptian Government has approved the development of 1 GW of solar capacity and 500 MW of wind capacity in the country, which will be developed by the Emirati company AMEA Power. The solar projects will be built in the Aswan Governorate (southern Egypt), while the wind project will be located in Ras Ghareb in the Red Sea Governorate (eastern Egypt). The 500 MW Amunet wind park is scheduled to enter commercial operation in the second quarter of 2025.
In December 2022, the International Finance Corporation (IFC) and other international partners granted a US$1.1bn financing package to AMEA Power for the development of its renewable projects in Egypt. AMEA Power is also planning the development of a 1 GW green hydrogen project in the Suez Governorate for the production and export of green ammonia.
At the end of 2021, solar and wind each represented 2.7% of Egypt’s installed capacity with over 1.6 GW each. Egypt targets 42% of electricity production from renewables in 2035, with 25% from solar, 14% from wind, and 2% from hydropower.
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