EETC collaborates with Masdar’s consortium to build new solar energy projects
Updated 11/21/2024 3:39:00 AM
Arab Finance: Egyptian Electricity Transmission Company (EETC) and a consortium comprising UAE’s Masdar, Egypt's Infinity, and Hassan Allam signed two agreements, as per a statement.
Under the agreements, two projects for the generation of electricity from solar energy will be carried out under the build-own-operate (BOO) model, with a total capacity of 1.2 gigawatts, incorporating energy storage systems with a capacity of 720 megawatts-hour.
The first phase of these projects is expected to begin operation and get linked to the unified network by July 2025, with completion scheduled later that year.
Minister of Electricity and Renewable Energy Mahmoud Esmat explained that the projects are aligned with Egypt’s national energy strategy, which aims to achieve 42% renewable energy in the national energy mix by 2030 and exceed 60% by 2040.
The solar projects will be developed by two newly established entities.
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