- Engie Group will collaborate with National Renewable Energy Association (NREA) and the Egyptian Electricity Transport Company (EETC)
- The three will work on developing photovoltaic projects in Egypt
- Second agreement is regarding import of liquefied natural gas to Egypt by Engie
- The French company is already working on 100 MW of PV projects in the country, among others
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French energy giant Engie Group signed two energy agreements with Egypt on the state visit of French President François Hollande. The first agreement is between Engie, National Renewable Energy Association (NREA) and the Egyptian Electricity Transport Company (EETC) to further the growth of renewable energy in Egypt. The second is between the French company and the Egyptian national company, EGAS, which is part of the Egyptian Ministry of Petroleum and Mineral Resources, to import liquefied natural gas (LNG) to Egypt.
Engie, NREA and EETC are already working on some renewable energy projects in Egypt including the financing, construction, operation and maintenance of two 50 MW PV projects in Benban under the country’s FiT program. There is one more project, ‘West of Nile’, where Engie has pre-qualified for wind, PV and concentrated solar power projects on a build-own-operate basis.
As Egypt is more and more struggling to satisfy its increasing power demand with domestic fossil fuels, it wants to increase the share of renewables in its energy mix to 20% by 2022. In 2014, Egypt announced an FiT program with a goal of installing 2.3 GW solar by 2017, with 2 GW central power plants and 300 MW distributed PV systems smaller 500 kW.