UAE’s Kazar to Invest USD 2.5B in Hybrid Renewable Plant in Egypt

UAE investment firm Kazar plans to invest USD 2.5 billion in a hybrid renewable energy plant in Egypt's Zafarana region, located to the east of the country. The project, agreed upon with the Egyptian government, will have a capacity of 3.1 gigawatts, combining 2 gigawatts of solar energy and 1.1 gigawatts of wind energy.

The build-operate-own (BOO) model will govern the plant’s implementation, with Kazar overseeing construction and operation. The state-owned Egyptian Electricity Transmission Company (EETC) will purchase the energy produced at competitive rates: 2 cents per kilowatt-hour (kWh) for solar and 3 cents per kWh for wind.

The project will replace the aging Zafarana Wind Farm, which currently generates 545 megawatts from 700 turbines across 120 square kilometres. Construction is expected to begin in early 2026, following the completion of project studies and financial arrangements by late 2025.