Egypt has finalized land allocation agreements for two wind energy projects in the West Sohag region, marking a significant step towards bolstering its renewable energy sector. With a combined capacity of 8 gigawatts, these projects are poised to attract foreign direct investments totaling $9 billion. The first project, with a targeted capacity of 5 gigawatts, will be led by SCATEC while the second, aiming for 3 gigawatts, will be implemented by an alliance led by Orascom Construction. These initiatives, developed in collaboration with the New and Renewable Energy Development and Utilization Authority, will utilize the Build-Own-Operate system, emphasizing sustainable energy practices. The signing ceremony underscores the strategic importance of these ventures in advancing Egypt's energy goals and fostering economic growth.
The consortium of investors, which includes ENGIE’s subsidiary Kahrabel and the Japanese company Euros Energy Holdings, reflects a global commitment to renewable energy development in Egypt. These investments, stemming from agreements initiated during the COP27 conference, signify a pivotal moment in Egypt's renewable energy transition. the economy.