MoU signed to develop 10 GW solar energy project in Egypt

China Electric Power Equipment and Technology Co. (CET) has signed a memorandum of understanding (MOU) with the Egyptian government to develop a 10 GW solar energy project.

The MOU inked by Egypt's New and Renewable Energy Authority and Egyptian Electricity Holding Co. sets the stage for initial studies in the development of the project. Forecasts indicate an annual electricity production of approximately 29,784 GWh, contributing to a reduction of around 14 million tons of carbon dioxide emissions. Aligned with Egypt's comprehensive "Green Corridor Initiative," this initiative seeks to advance renewable energy utilization and decrease reliance on fossil fuels, aligning with the nation's pursuit of sustainable development. Moreover, the project corresponds with Egypt's ambitions to raise the share of renewable energy in the energy mix to 42% by 2030 and aligns with the National Climate Strategy 2050.