{"id":654959,"date":"2024-11-11T00:00:00","date_gmt":"2024-11-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/11\/electricity-ministry-sets-offtake-prices-for-stored-solar-energy-plus-knauf-hassan-allam-construction-siemens-dynamic-distribution-aton\/"},"modified":"2024-11-11T00:00:00","modified_gmt":"2024-11-11T00:00:00","slug":"electricity-ministry-sets-offtake-prices-for-stored-solar-energy-plus-knauf-hassan-allam-construction-siemens-dynamic-distribution-aton","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/11\/electricity-ministry-sets-offtake-prices-for-stored-solar-energy-plus-knauf-hassan-allam-construction-siemens-dynamic-distribution-aton\/","title":{"rendered":"Electricity Ministry sets offtake prices for stored solar energy. PLUS: Knauf + Hassan Allam Construction, Siemens, Dynamic Distribution, Aton"},"content":{"rendered":"<p class=\"tag-border-left\">RENEWABLES- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt sets ta<\/strong><strong>riffs for stored solar energy: <\/strong>The Electricity Ministry has put a price tag on energy produced from solar and battery storage projects \u2014 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 <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%a7%d9%84%d9%83%d9%87%d8%b1%d8%a8%d8%a7%d8%a1-%d8%aa%d8%ad%d8%af%d8%af-%d8%aa%d8%b9%d8%b1%d9%8a%d9%81%d8%a9-%d8%b4%d8%b1%d8%a7%d8%a1-%d8%a7%d9%84%d8%b7%d8%a7%d9%82%d8%a9-%d8%a7%d9%84\/\" style=\"\" rel=\"noopener\">A<\/a><a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%a7%d9%84%d9%83%d9%87%d8%b1%d8%a8%d8%a7%d8%a1-%d8%aa%d8%ad%d8%af%d8%af-%d8%aa%d8%b9%d8%b1%d9%8a%d9%81%d8%a9-%d8%b4%d8%b1%d8%a7%d8%a1-%d8%a7%d9%84%d8%b7%d8%a7%d9%82%d8%a9-%d8%a7%d9%84\/\" style=\"\" rel=\"noopener\">l<\/a><a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%a7%d9%84%d9%83%d9%87%d8%b1%d8%a8%d8%a7%d8%a1-%d8%aa%d8%ad%d8%af%d8%af-%d8%aa%d8%b9%d8%b1%d9%8a%d9%81%d8%a9-%d8%b4%d8%b1%d8%a7%d8%a1-%d8%a7%d9%84%d8%b7%d8%a7%d9%82%d8%a9-%d8%a7%d9%84\/\" style=\"\" rel=\"noopener\">Mal<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019ve been hearing a lot about stored solar energy projects recently: <\/strong>Egypt currently has a few solar and battery storage projects in the works, most notably Emirati AMEA Power\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0e0776b4-6497-4dbd-9af6-c265e8eaedbc\/amea-power-to-invest-usd-800-mn-to-develop-africa%25e2%2580%2599s-largest-solar-power-plant-and-battery%253cmark%253e-storage%253c%2Fmark%253e-projects-in-upper-egypt.-plus:-scatec,-two-int%25e2%2580%2599l-consortia-set-the-wheels-in-motion-on-renewables-projects.\" style=\"\" rel=\"noopener\">1 GW solar power plant with 600 MWh battery storage system<\/a> in Benban \u2014 expected to be the continent\u2019s largest. UAE\u2019s Masdar, Hassan Allam Utilities, and Infinity Power are also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/df14edc2-b089-4b19-9259-1c4724a140a1\/cabinet-approves-over-eur-1-bn-in-eu-funding\" style=\"\" rel=\"noopener\">working on a solar project<\/a>, which will have a capacity of 1.2 GW of energy and 240 MW\/hour of storage batteries. <\/p>\n<p class=\"tag-border-left\">CONSTRUCTION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Knauf to supply Hassan Allam with building materials: <\/strong>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 <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/828.pdf\" style=\"\" rel=\"noopener\">joint press release (pdf)<\/a>. The partnership will see Knauf supplying Hassan Allam Construction with gypsum boards, cement boards, metal profiles, and more.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI:<\/strong> Knauf is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e1594d9b-62a9-474e-aded-4c3576ba3ac3\/tag-oil-is-raising-usd-7.2-mn-to-fund-activities-in-egypt.-plus:-news-from%253cmark%253e-knauf%253c%2Fmark%253e,-oppo,-elsewedy#:~:text=Knauf%20has%20big%20investments%20planned%20in%20Egypt%3A%20Abdelrasoul\" style=\"\" rel=\"noopener\">expected<\/a> 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.<\/p>\n<p class=\"tag-border-left\">INVESTMENT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Could Egypt and Japan host their own investment conference? <\/strong>The Egyptian-Japanese Business Council proposed hosting an Egypt-Japan investment conference next year, modeled on June\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b44bf694-9410-4f47-beea-46b32a2a5f11\/egypt-inks-eur-67.7-bn-worth-of-agreements-and-mous-at-egypt-eu%253cmark%253e-investment-conference%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">Egypt-EU Investment conference<\/a>, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/%d9%85%d8%ac%d9%84%d8%b3-%d8%a7%d9%84%d8%a3%d8%b9%d9%85%d8%a7%d9%84-%d8%a7%d9%84%d9%85%d8%b5%d8%b1%d9%8a-%d8%a7%d9%84%d9%8a%d8%a7%d8%a8%d8%a7%d9%86%d9%8a-%d9%8a%d8%a8%d8%ad%d8%ab-%d9%85%d8%b9-%d9%85\/\" style=\"\" rel=\"noopener\">Al Mal<\/a> reports. <\/p>\n<p class=\"tag-border-left\">TECH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Around 1k factories are set to go digital:<\/strong> 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 <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/citEgypt\/posts\/pfbid02xeWKamHuxJo2PTBbSq5KCGhBKr2kgMphbKt2KLukhiqdmzFVAtLwC4iUorWmKBUNl?locale=ar_AR\" style=\"\" rel=\"noopener\">statement<\/a>. The initiative aims to support and fund local factories with their digital transformation to help enhance their production efficiency and help reduce operation costs.  <\/p>\n<p class=\"tag-border-left\">INFRASTRUCTURE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Siemens completes EGP 385 mn power station in Sadat City:<\/strong> Germany\u2019s 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 <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianMinistyOfHousing\/posts\/pfbid0FoCEYLreF9HGxxW9tEjUG9StjrfDUFr37JUA2M4mJVEmTfSJDN7cxpwpHEq1fiM7l\" style=\"\" rel=\"noopener\">statement<\/a>. 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.<\/p>\n<p class=\"tag-border-left\">AUTOMOTIVE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dynamic to open Fiat's largest regional service center:<\/strong> Egypt\u2019s 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 <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/11\/10\/1841779\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. 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.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Helmy said in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9e357004-8015-4344-ba45-46118ea47d44\/\" style=\"\" rel=\"noopener\">September<\/a> that the distributor plans to distribute new Fiat models \u2014 including EVs \u2014 in Egypt next year.<\/p>\n<p class=\"tag-border-left\">MINING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A new Aton drilling venture in Abu Marawat:<\/strong> Canadian gold miner Aton Resources revealed that Abu Marawat Gold Mines Ltd \u2014 a joint venture between Aton and the Egyptian Mineral Resources Authority \u2014 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 <a target=\"_blank\" href=\"https:\/\/atonresources.com\/news\/2024\/aton-announces-corporate-and-operations-update\/\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 \u2014 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 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":654960,"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":[7209],"tags":[111,130,7106,770,93,72,7093,890,373,91,151,484],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-654959","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-construction","tag-debt","tag-electricity-ministry","tag-energy","tag-enterpriseam","tag-gold","tag-hassan-allam-holding","tag-mining","tag-oil-and-gas","tag-renewables","tag-siemens","wpautop","entry"],"acf":{"mongo_id":"88db01cc-18d1-4f8d-a925-4d8594715f56","order":"11","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/1902.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Electricity Ministry sets offtake prices for stored solar energy. PLUS: Knauf + Hassan Allam Construction, Siemens, Dynamic Distribution, Aton","related_issue":[654941],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.f4c95349-9b04-4cb3-947b-e72a5e77a931.mp3"},"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>Electricity Ministry sets offtake prices for stored solar energy. PLUS: Knauf + Hassan Allam Construction, Siemens, Dynamic Distribution, Aton - 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\/2024\/11\/11\/electricity-ministry-sets-offtake-prices-for-stored-solar-energy-plus-knauf-hassan-allam-construction-siemens-dynamic-distribution-aton\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Electricity Ministry sets offtake prices for stored solar energy. 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