Algeria, Zimbabwe discuss mining + renewables and KSA approves agreement with Egypt to work on renewables + green hydrogen

Algeria, Zimbabwe looking to join forces on mining and renewables: Algeria’s Energy and Mining Minister Mohamed Arkab and Zimbabwe President Emmerson Mnangagwa discussed increasing cooperation and joint investments in renewable energy, mining, and grid infrastructure, according to cabinet statements (here and here). The Algerian government has set out a target to reach a 22 GW clean energy capacity by 2030, with solar energy accounting for 14 GW of the volume and wind power generating 5 GW. Zimbabwe has a target to generate either 1.1 GW or 16.5% of its total electricity supply by 2025, and 2.1 GW or 26.5% of total electricity supply by 2030.

KSA, Egypt will partner on renewables and green hydrogen: Saudi Arabia’s cabinet approved an MoU between the country’s Energy Ministry and the Egyptian government on increasing cooperation in renewable energy and clean hydrogen, the Saudi Press Agency reports.

KSA developers are already deep in the Egyptian clean energy sector: Saudi private sector companies from both countries signed 14 agreements totaling USD 7.7 bn to invest in various sectors including renewable energy in June 2022, with KSA’s Ajlan & Bros inking half of the pacts. Signatories included Egypt’s Hassan Allam Holding, which among other renewables assets, is developing a 10 GW wind farm in Sohag, Egypt. Saudi Arabian renewables giant Acwa Power also inked a pact with the Egyptian Electricity Holding Company to build a 1.1 GW wind energy project in Egypt at an investment ticket of USD 1.5 bn.

And Acwa Power has a lot of investments in Egypt: Acwa Power is also building a 10 GWwind farm in Egypt’s Sohag governorate, for which it signed a land allocation agreement last month. Acwa also owns the 200 MW Kom Ombo solar power plant, which last April got USD 114 mn in backing from a consortium of international lenders led by the European Bank for Reconstruction and Development. The company has minority stakes in three plants in Egypt’s 1.8 GW Benban solar complex and an upcoming project with the Egyptian Electricity Transmission Company to convert an electricity plant in Luxor to renewable energy, and has reportedly expressed interest in Egypt’s investment in desalination infrastructure.