Egypt allocates EGP 6.7B for renewable energy projects under NWFE program in FY 2024/25
Updated 3/16/2025 8:05:00 AM
Arab Finance: Egypt has secured EGP 6.7 billion in public investments from the fiscal year (FY) 2024/2025 economic and social development plan for four renewable energy projects, Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, announced.
Al-Mashat highlighted that, under this plan, the four projects under the energy pillar of the NWFE program will be linked to the national electricity grid by the upcoming summer, supporting the state's efforts to reinforce grid stability and increase the capacity of clean electrical energy.
As per the second progress report for the NWFE program, the first phase of projects, scheduled to be connected before the summer of 2025, will have a total capacity of 3,700 megawatts (MW) of solar energy.
This is in addition to a storage capacity through batteries standing at 2,840 MW-hours.
These projects will enable the unified grid to absorb the expected renewable energy capacities, hence contributing to solving the electricity outage issue and meeting the country's electricity needs.
The scheduled projects include the EMIYA station with a capacity of 1 GW in Southeast Benban, the Scatec station with a capacity of 1 GW in Nagaa Hammadi, the Masdar station with a capacity of 900 MW in El-Wahat, and the 500-kilovolt transformer station in the 10th of Ramadan City in Sharqia governorate.
For her part, Al-Mashat indicated that these projects come within the framework of the National Integrated Sustainable Energy Strategy, aiming to expand the share of renewable energy in the states's energy mix to 42% by 2030 and 60% by 2040.
The NWFE program seeks to add 10 GW of renewable energy capacity with investments valued at nearly $10 billion while reducing the 5 GW of fossil fuel-generated power by 2028.
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