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Egypt signed renewable energy production agreements with a number of foreign firms in November with a combined value of nearly $118 billion, a newspaper said on Friday.
The accords, covering solar, hydrogen and other forms of energy, were signed at the COP27 conference in the Sharm El-Sheikh resort and they will turn the most populous Arab country into a “renewable energy big power,” the Arabic language daily Addustour said, citing a report by the New and Renewable Energy Authority.
Nine of the deals, dubbed “framework agreements” involve investment of nearly $85 billion with a total production of 47,000 megawatts, the report said. The Authority signed a total 16 MOUs with regional and global firms for the production of green hydrogen besides other solar and wind power deals.
Officials said agreements signed the COP conference would add nearly 55 gigawatts to its existing solar and wind power production.
(Writing by Nadim Kawach; Editing by Anoop Menon)
