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Arab Finance: The Egyptian cabinet has approved granting Alamein Silicon Products Company a golden license to establish and operate a silicon manufacturing and purification facility on a 714,000-square-meter site in New Alamein City in Matrouh Governorate, as per a statement.
The approval gives the company a single permit to move forward with the project.
The facility is planned to increase Egypt’s silicon exports by 50% of production in the first phase, rising to 60% in the second phase, focused on intermediate silicon output.
The project also supports the localization of technologies used in producing metallic silicon through electric furnaces and in manufacturing intermediate silicon.
It is scheduled for completion by the end of June 2027 and is expected to create around 250 direct and 2,000 indirect jobs.
Furthermore, the cabinet approved the offer submitted by a consortium comprising Orascom Construction, France’s Engie, and Japan’s Toyota to develop a 900-megawatt wind power project in the Ras Shukeir area.
The cabinet also endorsed the signing of a power purchase agreement between the Egyptian Electricity Transmission Company (EETC) and the consortium, along with a land use agreement between the New and Renewable Energy Authority (NREA) and the developers.
The government stated that the approval falls within its plan to increase renewable energy capacity, meet growing electricity demand, and reduce dependence on fossil fuels under the adopted energy strategy.
The cabinet also approved the proposal submitted by Norway’s Scatec to implement a solar and battery storage project designed to deliver a constant 24-hour output.
The plan includes establishing a hybrid station combining a solar plant with 1,500 megawatt-hours of battery storage, with a capacity of 1.7 gigawatts (AC) producing 100 megawatts continuously.
It also includes a 500-kilovolt interconnection line, a 600 MVA substation, and additional battery storage systems in Abu Qir and Naga Hammadi with capacities of 1,435 megawatt-hours and 1,000 megawatt-hours.
The project adds renewable capacity and battery energy storage using grid-forming systems that support grid reliability.
The Cabinet also approved signing the power purchase, grid connection, and land usufruct agreements for the project between the EETC, the NREA, and the project company.
