China Energy has been awarded a contract to prepare a technical and financial study for a power storage and pumping station in Egypt.

Egyptian Electricity and Renewable Energy Minister Mohammed Shakir signed the contract with the Chinese firm in Cairo on Thursday.

Shakir, quoted by local newspapers on Friday, said the 2,000-megawatt (MW) facility would be awarded on a BOO (build-Own-Operate) basis.

The Minister provided no other details of the project apart from saying Egypt is pursuing plans to expand its power networks and boost renewable to 42 percent of energy mix in 2030.

(Writing by Nadim Kawach; Editing by Anoop Menon)


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