Chinese Company Eyeing 10 GW Solar Capacity In Egypt

• Egypt has brought on board a Chinese EPC group to build a 10 GW solar energy project  
• China Electric Power Equipment and Technology will explore the feasibility of a project of this magnitude  
• It has signed an MoU with the NREA and EEHC for the project estimated to save around $1 billion/year in natural gas costs  

China Electric Power Equipment and Technology, the Chinese EPC company, will explore the feasibility of a 10 GW solar energy project in Egypt under a memorandum of understanding (MoU) signed with local authorities.

Signatories to this MoU are the Egyptian New and Renewable Energy Authority (NREA) and Egyptian Electricity Holding Company (EEHC).

Under the agreement, the trio will conduct preliminary studies for the project that will produce an estimated 29,784 GWh annually. It will help reduce carbon emissions by about 14 million tons, and save natural gas costs of close to $1 billion/year.

The project falls within the framework of Egypt's Green Corridor Initiative and will enable the country to reduce the use of fossil fuels while expanding renewable energy capacity, according to the NREA.

Egypt aims for 42% of its electricity supply to comprise renewable energy technologies by 2030. At the end of 2022, a solar PV capacity of 1.7 GW contributed to the country's total renewable energy capacity of 6.32 GW, according to the International Renewable Energy Agency (IRENA).