{"id":655622,"date":"2024-11-21T00:00:00","date_gmt":"2024-11-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/21\/egypt-uae-ink-investments-for-solar-plants-solar-parts-factories-and-renewables-focused-industrial-zone\/"},"modified":"2024-11-21T00:00:00","modified_gmt":"2024-11-21T00:00:00","slug":"egypt-uae-ink-investments-for-solar-plants-solar-parts-factories-and-renewables-focused-industrial-zone","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/21\/egypt-uae-ink-investments-for-solar-plants-solar-parts-factories-and-renewables-focused-industrial-zone\/","title":{"rendered":"Egypt, UAE ink investments for solar plants, solar parts factories, and renewables-focused industrial zone"},"content":{"rendered":"

It was a big day for renewables investments and UAE-Egypt relations<\/strong>, with senior private and public sector figures from the two countries inking numerous investments yesterday for projects across the length and breadth of the country.<\/p>\n

#1- Lake Nasser may soon be getting a floating solar plant<\/strong> under an agreement signed<\/strong> yesterday<\/strong> between the UAE\u2019s Masdar and the Egyptian state\u2019s Future of Egypt<\/a> agricultural expansion project, according to a cabinet statement<\/a>. The project will not only take advantage of the large surface area and plenty of sun down south to produce much needed electricity, but will also help to reduce the rate of evaporation by covering much of the water\u2019s surface, Prime Minister Moustafa Madbouly said. <\/p>\n

It\u2019s unclear how big the project will be<\/strong>, with Emirati state news agency Wam<\/a> putting the project\u2019s capacity at 3 GW and the cabinet statement putting the capacity at 5 GW, split between a 2 GW first stage and 3 GW second stage.<\/p>\n

\n

#2- This wasn\u2019t the only agreement Masdar signed with Future of Egypt<\/strong>, as another MoU was inked between the two to establish a solar plant in Nag Hammadi. Again, it was unclear how big the project will be, with Wam saying 2 GW and the cabinet saying 2.8 GW.<\/p>\n

\n

#3- A renewables-focused industrial zone in East Port Said may also be in the works,<\/strong> courtesy of AD Ports<\/strong>, who inked an MoU for the project with the SCZone yesterday, according to a cabinet statement<\/a>. The Abu Dhabi sovereign wealth fund ADQ-owned company will develop, operate, and manage the 20 sq km zone in East Port Said. The possibility of linking the site with nearby docks and logistics areas is also under study.<\/p>\n

What we know so far: <\/strong>The project will start with four factories, two of which will produce solar panels and other bits of solar tech, Madbouly said in his weekly presser<\/a>. Fast forward a few months, and the project will also have facilities producing batteries to store solar power by next summer, he added. The factories will have a capacity of 4 GW of solar panels and 2 GW of battery storage.<\/p>\n

This isn\u2019t the first time we heard about the project: <\/strong>Recent meetings in August between government officials and Emirati government and business figures covered a proposal to set up an Emirati industrial zone<\/a> in East Port Said, which the government said it was considering a freezone or special economic zone exempt from customs duties.<\/p>\n

\n

#4- A USD 12 mn battery storage factory is also in the works<\/strong>, after an MoU was inked between the Industry Ministry, the UAE\u2019s Global South Utilities, and China\u2019s Weiheng, according to a cabinet statement<\/a>. The facility will have a capacity of 1 GW.<\/p>\n

\n

#5- Global South Utilities are also embarking on a factory project with another Chinese<\/strong> company<\/strong>, after inking an MoU with JA Solar for two solar power factories, according to a cabinet statement<\/a>. One of the factories will manufacture solar cells with a production capacity of 2 GW at an investment cost of USD 138 mn, alongside another to produce solar panels with the same production capacity at a cost of USD 75 mn<\/p>\n

\n

ALSO- The cabinet greenlit two power purchase agreements for two separate solar<\/strong> projects<\/strong> for a consortium made up of the UAE\u2019s Masdar<\/a>, <\/a>Hassan Allam Utilities<\/a>, and <\/a>Infinity Power<\/a>, according to a cabinet statement<\/a>. The agreements with the Egyptian Electricity Transmission Company are for a project at the giant Benban plant with a capacity of 300 MW and a battery storage capacity of 60 MWh, in addition to a second solar project in the Dahkla Oasis with a capacity of 900 MW and 660 MWh of battery storage. Trial operations for both projects will begin in July 2025, with the rest of the project to be completed the same year, according to a separate cabinet statement<\/a>.<\/p>\n

Remember: <\/strong>The project with a combined capacity of 1.2 GW was first approved<\/a> by the cabinet in August.<\/p>\n

PLUS- The cabinet also approved a draft decision to establish a USD 10 mn private freezone<\/strong> for ready-made garments in Sadat City <\/strong>\u2014 dubbed LT Jeans Services. The 22.8k sqm proposed zone has a targeted production of 2.9 mn garments per year that will be earmarked entirely for exports, using a local component ratio of 75%.<\/p>\n","protected":false},"excerpt":{"rendered":"

The agreements included the establishment of a floating solar plant on Lake Nasser<\/p>\n","protected":false},"author":1,"featured_media":655623,"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":[7207],"tags":[93,72,131,151],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-655622","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-energy","tag-enterpriseam","tag-manufacturing","tag-renewables","wpautop","entry"],"acf":{"mongo_id":"143898ae-4a18-4a99-aad1-354c56140c1b","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/1129.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt, UAE ink investments for solar plants, solar parts factories, and renewables-focused industrial zone","related_issue":[655617],"teaser":"The agreements included the establishment of a floating solar plant on Lake Nasser","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.7a841a79-10c6-464f-a163-f947a579028c.mp3"},"yoast_head":"\nEgypt, UAE ink investments for solar plants, solar parts factories, and renewables-focused industrial zone - 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The company will build a 200 MW solar\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":597322,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/22\/chinas-united-energy-eyeing-solar-power-plants-in-egypt\/","url_meta":{"origin":655622,"position":1},"title":"China\u2019s United Energy eyeing solar power plants in Egypt","author":"enterpriseam admin","date":"22 July 2019","format":false,"excerpt":"Electricity Minister Mohamed Shaker met yesterday with a delegation from China\u2019s United Energy Group, which is interested in setting up solar and concentrated solar power plants, according to Al Mal. The Hong Kong-listed energy firm has been eyeing new investments in Egypt\u2019s energy sector since at least last October.","rel":"","context":"In "Energy"","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":604671,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/10\/egypts-b-investments-mulling-usd-15-20-mn-acquisition-in-benban-solar-plant\/","url_meta":{"origin":655622,"position":2},"title":"Egypt\u2019s B Investments mulling USD 15-20 mn acquisition in Benban solar plant","author":"enterpriseam admin","date":"10 December 2018","format":false,"excerpt":"M&A WATCH- B Investments eyes 50% stake in 50 MW Benban solar plant: Private equity firm B Investments is looking to acquire a 50% stake in a 50 MW Benban solar plant for USD 15-20 mn, CEO Hazem Barakat told Al Mal. The company will make the decision in 1Q2019,\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":570539,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/05\/scatec-solar-secures-guarantees-for-benban-project\/","url_meta":{"origin":655622,"position":3},"title":"Scatec Solar secures guarantees for Benban project","author":"enterpriseam admin","date":"5 April 2020","format":false,"excerpt":"Scatec Solar has secured guarantees with the Multilateral Investment Guarantee Agency (MIGA) covering its equity investments in the Benban project, the company said in a statement. The guarantees cover 90% of investments by Scatec Solar for up to 15 years against the risks that it will be unable to legally\u2026","rel":"","context":"In "Energy"","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":544777,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/21\/edf-renewables-among-six-consortiums-eyeing-usd-1-bn-sczone-green-ammonia-plant\/","url_meta":{"origin":655622,"position":4},"title":"EDF Renewables among six consortiums eyeing USD 1 bn SCZone green ammonia plant","author":"enterpriseam admin","date":"21 March 2022","format":false,"excerpt":"Another green ammonia plant in the SCZone? France\u2019s EDF Renewables and Egypt\u2019s ZeroWaste are together one of six international consortiums currently in talks with the Suez Canal Economic Zone (SCZone) to establish a USD 1 bn green ammonia plant that would produce green fuel for ships, SCZone head Yehia Zaki\u2026","rel":"","context":"In "Green economy"","block_context":{"text":"Green economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/green-economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/270.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":657053,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/15\/amea-power-is-setting-up-a-5-gw-wind-project-in-gulf-of-suez\/","url_meta":{"origin":655622,"position":5},"title":"AMEA Power is setting up a 5 GW wind project in Gulf of Suez","author":"enterpriseam admin","date":"15 December 2024","format":false,"excerpt":"The project is set to be completed by 1Q 2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/265.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/655622","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=655622"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/655622\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/655617"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/655623"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=655622"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=655622"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=655622"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=655622"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=655622"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}