{"id":576946,"date":"2022-11-03T04:00:03","date_gmt":"2022-11-03T04:00:03","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/03\/more-renewables-projects-are-being-negotiated-in-riyadh\/"},"modified":"2022-11-03T04:00:03","modified_gmt":"2022-11-03T04:00:03","slug":"more-renewables-projects-are-being-negotiated-in-riyadh","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/03\/more-renewables-projects-are-being-negotiated-in-riyadh\/","title":{"rendered":"More renewables projects are being negotiated in Riyadh"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>The Electricity Ministry is in talks with six Saudi firms for more than USD 3 bn <\/strong><strong>worth of renewable energy projects <\/strong>as Electricity Minister Mohamed Shaker visits Riyadh, <a href=\"https:\/\/www.asharqbusiness.com\/article\/43604\">Bloomberg Asharq<\/a> reports, citing four people at state-owned Egyptian electricity companies.<\/p>\n<p><strong>Who\u2019s involved:<\/strong> The minister is holding talks with ACWA Power, Al Fanar, FAS Energy, and Al Babtain during his visit to the kingdom, the sources said. He is also reportedly meeting with Saudi financing institutions to help drum up investment for the projects.<\/p>\n<p><strong>Work on that blockbuster ACWA wind plant starts next year:<\/strong> Shaker\u2019s visit coincided with the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/866d0721-9205-4641-bcd0-b61100d2abec\">signing of an MoU<\/a> between ACWA Power and state-owned Egyptian electricity companies to construct a huge 10-GW wind farm which, when completed, will be one of the largest in the world. One source told Asharq that the first phase of the project will have a capacity of 1.1 GW and cost up to USD 1.1 bn. Construction will begin at the beginning of next year and take two years to complete, they added.<\/p>\n<p><strong>Green hydrogen agreements imminent?<\/strong> Agreements for two green hydrogen projects could be signed during Shaker\u2019s visit, one source told Bloomberg Asharq, adding that the framework agreements could be signed during COP27. Cabinet had already told us to expect one green hydrogen agreement to be <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0393e32a-17d1-4a6f-b9b3-4e71fc374a0d\">signed with ACWA Power<\/a> during Shaker\u2019s visit, among other renewables projects.<\/p>\n<p><strong>So<\/strong><strong>me of these companies already have a presence in Egypt\u2019s renewables sector<\/strong><strong>:<\/strong><\/p>\n<ul>\n<li><strong>FAS Energy<\/strong> is planning to construct <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/495756fd-2671-4978-b10a-7f23f4bcea99\">a 500 MW solar plant<\/a>. FAS Energy CEO Sabri Asfour told us earlier this year that the company plans to invest in our green hydrogen sector;<\/li>\n<li><strong>Al Fanar<\/strong> inked an MoU to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4ab5ebab-55a1-4a68-97a3-0f02e5b4e147\">build a green hydrogen and ammonia facility<\/a> and another to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/031ecccd-f816-4657-ae61-58d9c32a706d\">explore wind energy projects<\/a> earlier this year.<\/li>\n<\/ul>\n<p><strong>This all comes as part of the government\u2019s drive to reach its ambitious renewable energy <\/strong><strong>target:<\/strong> Egypt is aiming to produce <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/46eb0c0b-2e62-47e0-8423-05c5359f3275\">42% of its energy<\/a> from renewable sources by 2030, a target announced during last year\u2019s COP26 summit. This is five years earlier than its previous target.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Electricity Ministry is in talks with six Saudi firms for more than USD 3 bn worth of renewable energy projects as Electricity Minister Mohamed Shaker visits Riyadh, Bloomberg Asharq reports, citing four people at state-owned Egyptian electricity companies. Who\u2019s involved: The minister is holding talks with ACWA Power, Al Fanar, FAS Energy, and Al [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":576947,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","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":[7207],"tags":[1042,6344,2315,770,93,72,2083,254,151,219],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-576946","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-acwa-power","tag-al-babtain","tag-al-fanar","tag-electricity-ministry","tag-energy","tag-enterpriseam","tag-fas-energy","tag-green-hydrogen","tag-renewables","tag-saudi-arabia","wpautop","entry"],"acf":{"mongo_id":"db8e376b-7412-4e46-aaa1-3e4f5b33660a","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/11\/66.jpg","photo_position":"above","related_issue":[576940],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>More renewables projects are being negotiated in Riyadh - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/03\/more-renewables-projects-are-being-negotiated-in-riyadh\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"More renewables projects are being negotiated in Riyadh\" \/>\n<meta property=\"og:description\" content=\"The Electricity Ministry is in talks with six Saudi firms for more than USD 3 bn worth of renewable energy projects as Electricity Minister Mohamed Shaker visits Riyadh, Bloomberg Asharq reports, citing four people at state-owned Egyptian electricity companies. 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We have another brisk news day here at home as the lead-up to COP27 brings with it plenty of fresh energy and investment news.THE BIG STORY TODAY The Electricity Ministry is in talks with six Saudi firms over more than\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":543900,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/23\/acwa-power-in-advanced-talks-with-sfe-over-wind-farm-in-gulf-of-suez\/","url_meta":{"origin":576946,"position":2},"title":"ACWA Power in advanced talks with SFE over wind farm in Gulf of Suez","author":"enterpriseam admin","date":"23 February 2022","format":false,"excerpt":"ACWA Power in talks over c. 250 MW wind farm: Saudi renewables company ACWA Power is in advanced talks with the Sovereign Fund of Egypt (SFE) to build a c. 250 MW wind farm in the Gulf of Suez, Al Borsa reports, citing unnamed sources who claimed a contract could\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/2\/333.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":598096,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/14\/acwa-submits-lowest-price-in-egyptian-electricity-transmission-cos-200-mw-kom-ombo-solar-plant-tender\/","url_meta":{"origin":576946,"position":3},"title":"Acwa submits lowest price in Egyptian Electricity Transmission Co\u2019s 200 MW Kom Ombo solar plant tender","author":"enterpriseam admin","date":"14 May 2019","format":false,"excerpt":"Acwa Power has submitted the best offer in the Egyptian Electricity Transmission Company\u2019s (EETC) tender to build a 200 MW solar power plant in Upper Egypt\u2019s Kom Ombo, offering to sell electricity to the state-owned company at a price of USD 0.0275 per KwH, sources from EETC tell the local\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":555973,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/05\/is-acwa-power-planning-to-bid-for-desalination-plants-in-egypt\/","url_meta":{"origin":576946,"position":4},"title":"Is ACWA Power planning to bid for desalination plants in Egypt?","author":"enterpriseam admin","date":"5 October 2021","format":false,"excerpt":"ACWA Power is eyeing desalination plants in Egypt, with the Saudi renewables company looking to partner with Egyptian outfits to bid for desalination projects being offered to investors by the Sovereign Fund of Egypt (SFE), Al Mal reported yesterday, citing unnamed sources. ACWA Power denied the report when contacted by\u2026","rel":"","context":"In &quot;Infrastructure&quot;","block_context":{"text":"Infrastructure","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/infrastructure\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/10\/60.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569175,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/16\/12-companies-competing-for-tender-to-build-200-mw-solar-plant-in-egypts-west-nile-delta\/","url_meta":{"origin":576946,"position":5},"title":"12 companies competing for tender to build 200 MW solar plant in Egypt\u2019s West Nile Delta","author":"enterpriseam admin","date":"16 February 2020","format":false,"excerpt":"As many as 12 local and foreign companies are bidding in a tender launched by the Egyptian Electricity Transmission Company (EETC) to build a 200 MW solar plant in the West Nile Delta, the local press reports, quoting unnamed sources. The company\u2019s include the UAE\u2019s Masdar and Alcazar Energy, Saudi\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/576946","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=576946"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/576946\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/576940"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/576947"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=576946"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=576946"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=576946"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=576946"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=576946"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}