Wednesday May 22nd, 2024
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Wind Energy Projects to Bolster Sustainability Announced in Sohag

The Egyptian government has announced plans for two wind energy projects financed by the private sector and foreign investments.

Cairo Scene

Wind Energy Projects to Bolster Sustainability Announced in Sohag

The signing of two land agreements marked the commencement of two wind energy projects in west Sohag, Upper Egypt. These initiatives were witnessed by the Egyptian Prime Minister, Electricity Minister and the Norwegian Ambassador to Egypt, as part of Egypt's plans to expand its renewable energy sector and attract investment in this field.

With a combined capacity of eight gigawatts, the projects will be executed under a Build-Own-Operate (BOO) framework, signaling private sector involvement. The first project, led by Scatec ASA Company, aims for five gigawatts of production, while Orascom Construction will lead the second project, targeting three gigawatts.

These projects, financed by approximately USD 9 billion in foreign direct investments, represent the largest onshore wind energy projects in the Middle East and will contribute to Egypt's goal of increasing renewable energy's share to 42% by 2030.

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