More renewable energy coming to the country’s energy mix: The Electricity Ministry and the Egyptian Electricity Transmission Company (EETC) signed complementary agreements with Masdar-Infinity JV Infinity Power and Hassan Allam Utilities Energy Platform — an investment vehicle set up by Hassan Allam Utilities and co-owned by the EBRD and Meridiam — for two solar power plants with a combined capacity of 1.2 GW and 720 MWh of battery storage, according to a press release (pdf) from the two private players and a statement from the Electricity Ministry.

The details: Under the agreements, the consortium will develop a 1 GW solar plant in Minya with 600 MWh of storage expected to go online in 3Q 2027 and a 200 MW solar plant in Benban with 120 MWh of connected battery storage, scheduled to kick off commercial operation in 3Q 2026. The cost of power will be USD 0.28 (EGP 1.3) per kWh, a government source is quoted as saying by Asharq Business.

Timeline: Environmental studies have already been completed, with the consortium set to reach financial close on the projects in 1Q 2026, the source added.

Project background: The projects build on a landmark agreement first signed in November2024 between Masdar, Hassan Allam Utilities, and Infinity Power and EETC to develop the two projects, albeit with slightly different specs than those announced in the final agreements.

REMEMBER- Masdar has a lot in the pipeline for Egypt, earlier last year agreeing to build a 200 MW wind farm in Ras Ghareb after inking a trilateral purchase power agreement with Infinity Power and the Egyptian Electricity Transmission Company (EETC). Masdar, Infinity Power, and Hassan Allam Utilities are also building a USD 10 bn, 10 GW wind farm project in Sohag that is set to be one of the largest wind farms globally and the largest in Africa. The trio, along with global energy giant BP, will also set up a USD 15 bn green hydrogen project in the SCZone.

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