{"id":643801,"date":"2024-09-16T00:00:00","date_gmt":"2024-09-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/16\/amea-power-to-invest-usd-800-mn-to-develop-africas-largest-solar-power-plant-and-battery-storage-projects-in-upper-egypt-plus-scatec-two-intl-consortia-set-the-wheels-in-motion-on\/"},"modified":"2024-09-16T00:00:00","modified_gmt":"2024-09-16T00:00:00","slug":"amea-power-to-invest-usd-800-mn-to-develop-africas-largest-solar-power-plant-and-battery-storage-projects-in-upper-egypt-plus-scatec-two-intl-consortia-set-the-wheels-in-motion-on","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/16\/amea-power-to-invest-usd-800-mn-to-develop-africas-largest-solar-power-plant-and-battery-storage-projects-in-upper-egypt-plus-scatec-two-intl-consortia-set-the-wheels-in-motion-on\/","title":{"rendered":"AMEA Power to invest USD 800 mn to develop Africa\u2019s largest solar power plant and battery storage projects in Upper Egypt. PLUS: Scatec, two int\u2019l consortia set the wheels in motion on renewables projects."},"content":{"rendered":"

The country\u2019s fossil fuel imports and production efforts may be leading the conversation<\/strong> at the moment, but investor appetite for renewables is still strong<\/strong>, with numerous stories coming in over the long weekend of investors \u2014 both local and foreign \u2014 willing to put their money where their mouths are.<\/p>\n

Refresher:<\/strong>The government wants to see 3-4 GW-worth of renewable energy projects go live<\/a> and start feeding the national grid by next summer to fill the energy supply gap. This push is part of a broader plan to secure the country's energy needs amid declining natural gas production and expanding electricity interconnection projects to enable exports to surrounding countries. In the longer run, the state aims to add 28 GW<\/a> of renewable energy to the country\u2019s energy mix over the next five to seven years.<\/p>\n

UPPER EGYPT TO GET NEW SOLAR, BATTERY PROJECT COURTESY OF AMEA- <\/p>\n

AMEA to funnel another USD 800 mn into our renewables sector:<\/strong> UAE\u2019s AMEA<\/a>Power<\/a> will invest USD 800 mn to develop two renewable energy projects in Upper Egypt after inking new purchase power agreements (PPAs) with the Egyptian Electricity Transmission Company (EETC) on Thursday, according to a company statement<\/a>.<\/p>\n

The projects: <\/strong>The agreements will see AMEA develop a 1 GW solar power plant with 600 MWh battery storage system in Benban \u2014 expected to be Africa\u2019s largest \u2014 and add 300 MWh of battery storage to its existing 500 MW<\/a>Abydos<\/a>solar power plant<\/a> currently under construction in Kom Ombo.<\/p>\n

Greening the economy:<\/strong> The two projects will provide renewable energy to over 769.8k homes, offsetting more than 2.3 mn tons of carbon emissions annually, and are expected to create around 2.5k jobs during peak construction.<\/p>\n

A first for Egypt: <\/strong>AMEA, along with Norwegian renewables developer Scatec, are the first developers to undertake hybrid solar and battery projects in the country. <\/p>\n

This will double AMEA\u2019s solar and wind generation capacity: <\/strong>The two projects will double the company\u2019s total capacity in the country to 2 GW of solar and wind projects \u2014 in addition to introducing a fresh 900 MWh worth of battery energy storage systems. Aside from its 500 MW Abydos solar plant<\/a>, AMEA is also working on a 500 MW wind farm in Ras Ghareb<\/a> dubbed Amunet.<\/p>\n

The <\/strong>timelines<\/strong>:<\/strong> The Abydos solar plant is due to be completed by October, while the Amunet wind farm will be completed by 3Q 2025.<\/p>\n

AND THE LA ON A NUMBER OF BREWING RENEWABLES PROJECTS- <\/p>\n

#1-<\/strong> OC-Led consortium sets the wheels in motion on wind farm expansion: <\/strong>A consortium of Orascom Construction, Toyota Tsusho, and Engie inked a land usufruct agreement and a PPA with the EETC and the New and Renewable Energy Authority (NREA) for a project that will see the consortium add 150 MW of wind energy capacity<\/a> to its 500 MW wind farm in the Gulf of Suez, according to a cabinet statement<\/a>. <\/p>\n

The timeline:<\/strong> The first 250 MW phase of the wind project is expected to go live in the last month of the year, begin feeding the national grid by Q3 2025, and wrap up the 150 MW extension by Q3 2025, the company said in a statement (pdf)<\/a>.<\/p>\n

By the numbers: <\/strong>Once complete, the wind farm will reduce carbon emissions by 1.3 mn tons every year and provide power to over 1 mn homes.<\/p>\n

\n

#2- Inching closer to Scatec\u2019s hybrid solar and battery storage project:<\/strong> Norway\u2019s Scatec inked a 25-year power purchase agreement with the Egyptian Electricity Transmission Company EETC for its planned 1 GW solar and 100-200 MWh battery storage hybrid project<\/a> in Egypt, it said<\/a> on Thursday. The agreement was denominated in USD, the company said, without disclosing its value.<\/p>\n

What\u2019s next?<\/strong> Scatec is expected to break ground on the project in 1H 2025. It has signed a mandate letter for concessional financing with a number of development banks and will work on securing the funds as well as finalizing land lease and grid connection agreements.<\/p>\n

\n

#3- Fertiglobe is one step closer to its green ammonia export dreams:<\/strong> A consortium of Scatec, Fertiglobe, and Orascom Construction has inked two land usufruct agreements with EETC and NREA to set up a wind and a solar power plant that will feed their USD 500 mn green hydrogen plant. The green hydrogen is slated to come online in 2027. Cabinet approved<\/a> the usufruct rights earlier this month.<\/p>\n

The bigger picture: <\/strong>The green hydrogen plant \u2014 being set up by the consortium with the Sovereign Fund of Egypt and the EETC \u2014 will provide the green hydrogen needed for Fertiglobe to produce green ammonia at its ammonia plants. The green ammonia will then be exported to the EU under an offtake agreement<\/a> with Germany\u2019s H2Global.<\/p>\n","protected":false},"excerpt":{"rendered":"

AMEA will develop a 1 GW solar power plant with 600 MWh battery storage system in Benban \u2014 expected to be Africa\u2019s largest<\/p>\n","protected":false},"author":1,"featured_media":643802,"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":[7284,93,6330,72,1585,363,151,573,2263],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-643801","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-amea-power","tag-energy","tag-engie","tag-enterpriseam","tag-fertiglobe","tag-orascom-construction","tag-renewables","tag-scatec","tag-toyota-tsusho","wpautop","entry"],"acf":{"mongo_id":"0e0776b4-6497-4dbd-9af6-c265e8eaedbc","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/1104.jpg","photo_position":"above","homepage_title":"","full_issue_title":"AMEA Power to invest USD 800 mn to develop Africa\u2019s largest solar power plant and battery storage projects in Upper Egypt. 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