The Egyptian Ministry of Electricity and Renewable Energy has signed an agreement with Norwegian renewable power producer Scatec on the construction of a wind farm worth $5 billion in the Sohag Governorate on the west bank of the Nile, the Egyptian cabinet said on Wednesday
CAIRO (Pakistan Point News / Sputnik - 05th July, 2023) The Egyptian Ministry of Electricity and Renewable Energy has signed an agreement with Norwegian renewable power producer Scatec on the construction of a wind farm worth $5 billion in the Sohag Governorate on the west bank of the Nile, the Egyptian cabinet said on Wednesday.
The official signing took place at the government building in the New Administrative Capital east of Cairo, the cabinet's statement read. Egyptian Prime Minister Mostafa Madbouly was also present at the event, the cabinet said.
Subject to the agreement, Scatec will receive a plot of land in the west of the Sohag Governorate to construct a wind power plant with the capacity of 5 GW, the statement read.
It is not the first agreement between the Egyptian government and Scatec. In mid May, the Egyptian Electricity Transmission (EETC) ans Scatec signed a memorandum of understanding on exporting renewable energy from Egypt to Europe via Italy.
Egyptian Minister of Electricity and Renewable Energy Mohamed Shaker said earlier this year that Cairo intended to increase the share of renewable energy sources in its energy industry from about 20% to 60% by 2040. The Egyptian government has been working on the green energy transition for some time, in particular, by constructing a significant number of wind farms in recent years.
