Egypt sets tariffs for solar energy storage
Updated 11/11/2024 8:30:00 AM
Arab Finance: The Egyptian Ministry of Electricity and Renewable Energy has introduced tariffs for solar energy produced and stored with battery systems, marking a key step in supporting renewable energy investment, sources familiar with the matter told Al Mal News.
Private-sector projects developed under build-own-operate (BOO) contracts will be priced at $0.023 per kilowatt-hour, while projects where the government owns the solar plants but investors provide the storage capacity will have a lower rate of $0.014 per kilowatt-hour.
Egypt currently has a few solar and battery storage projects underway, including a major development by the Emirati company AMEA Power.
The one-gigawatt solar plant in Benban, with a storage capacity of 600 megawatt-hour, is expected to become Africa’s largest solar power facility.
Another significant project is being developed by a consortium including Masdar, Hassan Allam Utilities, and Infinity Power, which is set to generate 1.2 gigawatts of solar energy, with an additional 240 megawatt-hours of battery storage.
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