Egypt has signed two memoranda of understanding (MoUs) for the development of 5.2 GW of renewable energy capacity in the country. The deals were signed on the sidelines of COP29 in Baku, Azerbaijan.

The first agreement was signed between Egypt’s Ministry of Electricity and a consortium of the UAE’s TAQA and France’s Voltalia for the development of a 3.2 GW renewable energy project, which will feature 2.1 GW of solar and 1.1 GW of wind capacity. The project would be located around 130 kilometers south-east of Cairo, near the 545 MW Zarafana wind project, and could be commissioned by 2028.

The second deal was signed between the Egyptian Electricity Transmission Company (EETC), the New and Renewable Energy Authority (NREA), and Alcazar Energy Partners, a Dubai-based renewable developer, for starting studies and assessments for a wind project with a total capacity of 2 GW. Once commissioned, the wind project is expected to supply 1.3 million Egyptian households. 

As of end-2023, renewables represented about 11% of Egypt’s installed capacity and of its power generation. Gas-fired power dominates Egypt’s energy landscape, with 88% of installed capacity and 67% of power generation. 

In October, 2024, the Egyptian Ministry of Petroleum and Mineral Resources announced a revision of Egypt’s renewables targets, lowering its target for the share of renewables in its energy mix from 58% to 40% by 2040.