{"id":641713,"date":"2024-09-01T00:00:00","date_gmt":"2024-09-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/01\/masdar-is-setting-up-usd-900-mn-worth-of-solar-power-plants-in-upper-egypt\/"},"modified":"2024-09-01T00:00:00","modified_gmt":"2024-09-01T00:00:00","slug":"masdar-is-setting-up-usd-900-mn-worth-of-solar-power-plants-in-upper-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/01\/masdar-is-setting-up-usd-900-mn-worth-of-solar-power-plants-in-upper-egypt\/","title":{"rendered":"Masdar is setting up USD 900 mn worth of solar power plants in Upper Egypt"},"content":{"rendered":"

Good afternoon, all. <\/strong>It is shaping to be a workweek abuzz with news as we bid farewell to the August news slowdown. <\/p>\n

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THE BIG STORY TODAY<\/p>\n

More renewables projects from Masdar: <\/strong>UAE\u2019s Masdar will set up USD 900 mn solar power plants in Upper Egypt with a combined capacity of 1 GW after the Madbouly government greenlit the move, one government official told Asharq Business<\/a>. The projects will be built under a build-own-operate (BOO) contract.<\/p>\n

What\u2019s next? <\/strong>The final agreements should be signed in October, the source said, adding that Masdar should have the projects up and running and feeding the national electricity grid before the end of 2025. <\/p>\n

Masdar is no stranger to the Egyptian market: <\/strong>It is currently working with Infinity Power and Hassan Allam Utilities to set up a USD 11 bn, 10 GW wind farm<\/a> in Sohag that is set to be one of the largest wind farms globally and the largest in Africa. It is also working<\/a> with Infinity and the EETC to construct a 200 MW wind farm in Ras Ghareb. <\/p>\n

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THE BIG STORY ABROAD<\/p>\n

Israel retrieves bodies of six hostages in Gaza: <\/strong>Israeli forces have recovered the bodies of six hostages that were found in a tunnel in southern Gaza where they appeared to have been killed not long before they were found. The news caused an uproar in Israel, with the hostages\u2019 families calling for large protests to pressure Israeli Prime Minister Benjamin Netanyahu into accepting the latest US-backed ceasefire proposal to bring about the release of the remaining hostages and a ceasefire in Gaza. Israeli and Hamas officials exchanged blame over the hostages\u2019 deaths. (Bloomberg<\/a> | Financial Times<\/a> | Associated Press<\/a>)<\/p>\n

<\/a> <\/p>\n

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