Electricity Ministry sets offtake prices for stored solar energy. PLUS: Knauf + Hassan Allam Construction, Siemens, Dynamic Distribution, Aton

RENEWABLES-

Egypt sets tariffs for stored solar energy: The Electricity Ministry has put a price tag on energy produced from solar and battery storage projects — USD 0.023/kwh for projects set up by private investors under a build-own-operate (BOO) contract and USD 0.014/kwh for projects where the government owns the solar plants while investors provide storage, unnamed Electricity Ministry sources told AlMal.

We’ve been hearing a lot about stored solar energy projects recently: Egypt currently has a few solar and battery storage projects in the works, most notably Emirati AMEA Power’s 1 GW solar power plant with 600 MWh battery storage system in Benban — expected to be the continent’s largest. UAE’s Masdar, Hassan Allam Utilities, and Infinity Power are also working on a solar project, which will have a capacity of 1.2 GW of energy and 240 MW/hour of storage batteries.

CONSTRUCTION-

Knauf to supply Hassan Allam with building materials: Building materials manufacturer Knauf will provide our friends at Hassan Allam Construction with building materials and solutions under a newly-announced strategic partnership, according to a joint press release (pdf). The partnership will see Knauf supplying Hassan Allam Construction with gypsum boards, cement boards, metal profiles, and more.

ICYMI: Knauf is expected to increase its Egypt investments to EUR 120 mn by 2026, up from EUR 50 mn in June, to expand operations and add new production lines at its Suez gypsum board factory.

INVESTMENT-

Could Egypt and Japan host their own investment conference? The Egyptian-Japanese Business Council proposed hosting an Egypt-Japan investment conference next year, modeled on June’s Egypt-EU Investment conference, Al Mal reports.

TECH-

Around 1k factories are set to go digital: The Chamber of Information Technology and Telecommunication in partnership with the Industrial Modernization Center has launched an initiative to digitize 1k factories, according to a statement. The initiative aims to support and fund local factories with their digital transformation to help enhance their production efficiency and help reduce operation costs.

INFRASTRUCTURE-

Siemens completes EGP 385 mn power station in Sadat City: Germany’s Siemens has completed construction of a power transformer station that will feed the eighth industrial zone expansion in Sadat City, according to a Housing Ministry statement. The 220/66/22 kV station will power the 1.5k-feddan industrial expansion area, as well as electricity networks in the southern and western extensions.

AUTOMOTIVE-

Dynamic to open Fiat's largest regional service center: Egypt’s Fiat distributor Dynamic Distribution plans to invest EGP 350 mn to establish what will be the Italian brand's largest service center and showroom in the region, chairman Emad Helmy told Al Borsa. The facility will offer after-sales services, maintenance, and spare parts, alongside a showroom displaying various models. The company also plans to launch a new competitively-priced Fiat model in 1Q 2025, according to Helmy.

Remember: Helmy said in September that the distributor plans to distribute new Fiat models — including EVs — in Egypt next year.

MINING-

A new Aton drilling venture in Abu Marawat: Canadian gold miner Aton Resources revealed that Abu Marawat Gold Mines Ltd — a joint venture between Aton and the Egyptian Mineral Resources Authority — has inked an agreement with LSE-listed Capital Drilling to drill up at least 5k meters in the Abu Marawat concession, according to a company statement.