Two Clean Energy Deals Worth USD 1.8 Billion Signed in Egypt
Energy Valley pairs 1.7 GW solar with battery storage across Minya Qena and Alexandria, while Sungrow’s 5,000 square metre plant targets 10 GW per hour and around 150 direct jobs.
The Ministry of Electricity and Renewable Energy and the General Authority for the Suez Canal Economic Zone signed two agreements worth over USD 1.8 billion for renewable energy and energy storage, aimed at boosting the reliability of the national electricity grid, according to a cabinet statement.
The first agreement is a land usufruct contract for a solar power plant and battery storage facility named Energy Valley in Minya Governorate, to be developed by Norwegian firm Scatec. The project includes new substations and transmission lines to supply electricity to the industrial zone in Minya’s Wadi El-Siririya.
Energy Valley is described as the first project in the region to supply clean and stable electricity around the clock, with 1.7 gigawatts of alternating current solar photovoltaic capacity and battery storage systems with a capacity of 4 GW per hour distributed across Minya, Qena and Alexandria.
Scatec also signed a power purchase agreement with the Egyptian Electricity Transmission Company to deliver a total capacity of 1.95 GW of solar power and 3.9 GWh of battery energy storage in Egypt.
The second agreement provides for a 5,000 square metre battery energy storage manufacturing plant in Ain Sokhna’s TEDA zone within the Suez Canal Economic Zone, to be developed by Chinese energy storage provider Sungrow. The plant is planned to have an annual production capacity of 10 GW per hour when fully operational, part of which will supply the Energy Valley project.
Production is scheduled to start in April 2027 and the project is expected to create around 150 direct jobs. Investment figures for each of the two projects were not disclosed.
