{"id":81548,"date":"2024-01-02T00:00:00","date_gmt":"2024-01-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/01\/02\/chinas-cet-is-planning-a-usd-10-bn-10-gw-solar-project-in-egypt\/"},"modified":"2024-01-02T00:00:00","modified_gmt":"2024-01-02T00:00:00","slug":"chinas-cet-is-planning-a-usd-10-bn-10-gw-solar-project-in-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/01\/02\/chinas-cet-is-planning-a-usd-10-bn-10-gw-solar-project-in-egypt\/","title":{"rendered":"China\u2019s CET is planning a USD 10 bn, 10 GW solar project in Egypt"},"content":{"rendered":"

China\u2019s CET to develop a 10 GW solar project in <\/strong>Egypt<\/strong>: <\/strong>China Electric Power Equipment and Technology (CET) signed an MoU with the Egyptian government on Wednesday to begin studies to develop a 10 GW solar project in Egypt, according to a cabinet statement<\/a> published on Wednesday. The solar farm is expected to cost some USD 10 bn, Al Mal<\/a> reports, citing a source from Egypt\u2019s New and Renewable Energy Authority it says has knowledge of the matter. The timeline for the project was not disclosed.<\/p>\n

What we know so far: <\/strong>CET expects to complete the 10 GW solar plant in multiple phases over five years under a build, own, operate agreement. The Egyptian Electricity Transmission Company will buy the farm\u2019s output USD 0.2 per KWh under an offtake agreement, according to Al Mal. The utility-scale solar farm \u2014 expected to be established in Upper Egypt \u2014 will span 160 sqkm, and once completed, will offset 14 mn tons of carbon emissions annually, saving some USD 1 bn of gas-powered energy costs per year.<\/p>\n

REMEMBER- Chinese companies are ramping up green investments in Egypt: <\/strong>In October,Egypt\u2019s Suez Canal Economic Zone (SCZone) has inked agreements<\/a> worth a combined USD 14.75 bn for two clean energy projects with China Energy and China\u2019s United Energy. China Energy signed a framework agreement for a planned green hydrogen plant in the SCZone and United Energy is planning a renewables-powered potassium chloride production facility.<\/p>\n","protected":false},"excerpt":{"rendered":"

Once operational, the USD 10 bn, 10 GW project will offset 14 mn tons of carbon emissions annually, and is expected to save some USD 1 bn of gas-powered energy costs per year.<\/p>\n","protected":false},"author":1,"featured_media":81549,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[171],"tags":[69,40,11,94,42],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-81548","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solar","tag-china","tag-egypt","tag-enterpriseclimate","tag-solar","tag-solar-energy","wpautop","entry"],"acf":{"mongo_id":"cdc59004-9072-4dd6-8b58-16d271bc18c5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/29.jpg","photo_position":"above","homepage_title":"","full_issue_title":"China\u2019s CET is planning a USD 10 bn, 10 GW solar project in Egypt","related_issue":[81544],"teaser":"Once operational, the USD 10 bn, 10 GW project will offset 14 mn tons of carbon emissions annually, and is expected to save some USD 1 bn of gas-powered energy costs per year.","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.1002f229-a9e5-4e2a-90dd-0ea8403f988c.mp3"},"yoast_head":"\nChina\u2019s CET is planning a USD 10 bn, 10 GW solar project in Egypt - 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