Arab Finance: The Egyptian Ministry of Electricity and Energy is planning to add 3 gigawatts of solar and wind power to the national grid until the summer of 2025, a government official told Asharq Business.

All these projects will be carried out by private sector companies under a build, own, operate (B.O.O) model, the official explained.

This means that the investor will finance, build, operate, and own the project, provided that the Egyptian Electricity Transmission Company (EETC) would purchase all the electricity generated from these renewable energy projects for the entire lifespan of the plants, he added.

The lifespan of the plants reaches about 20 years for solar power and 25 years for wind power.

The projects include a 500-megawatt (MW) solar power plant by Norway’s Scatec and a 1,000-MW solar project by the UAE-based AMEA Power, which will be built in two phases of 500 MW each, the official said.

Additionally, a 650-MW wind farm will be developed by a consortium of Orascom Construction, Japan’s Toyota Tsusho, and France’s Engie, alongside another 200-MW wind farm by Saudi Arabia’s ACWA Power, he mentioned.

This is in addition to 600 MW of solar projects to be implemented by companies involved that have not yet been disclosed.

These projects are set to be executed with investments exceeding $2.5 billion, the official stated, noting that most are located in Ras Ghareb, near Hurghada, and in Aswan.

Tags Egypt Solar energy Wind Energy Projects EETC