Egypt seals 2 land receipts for $9bln wind energy projects

The two projects are slated to generate a total of 8 gigawatts (GWs) of wind power

Staff Writer, Arab Finance

May 1, 2024

PHOTO

Egypt has signed two land receipt notes for carrying out two wind energy generation projects west of Sohag, with foreign direct investments (FDI) estimated at $9 billion, as per a statement.

The Chairman of the New and Renewable Energy Authority (NREA) Mohamed El-Khayat sealed the first note with CEO of Norway’s Scatec ASA Terje Pilskog and the second one with Orascom Construction’s CEO Khaled El Degwy, on behalf of a consortium including France’s ENGIE, and Japan’s Eurus Energy.

The two projects are slated to generate a total of 8 gigawatts (GWs) of wind power, 5 GWs of which to be produced by Scatec and 3 GWs by the Orascom-led consortium.

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