The Egyptian Renewable Energy Authority announced the allocation of about 6 million square meters of land to 7 leading international companies and alliances. To establish huge projects to produce electricity from solar and wind energy.

Expectations indicate that the total productive capacity of the projects for which land is expected to be allocated will reach 27 thousand megawatts, with investments of approximately $40 billion over 10 years.

This enormous production capacity represents approximately 45% of the total capacity of the Egyptian electrical network, which currently reaches about 59 thousand megawatts.

This pioneering step enhances Egypt's efforts in the field of green hydrogen. The Egyptian government, in cooperation with the Sovereign Fund of Egypt, signed agreements at the end of last February to launch projects to produce green hydrogen and renewable energy, with 7 global alliances that include leading companies in this field.

According to a government official, the investor has the right to obtain the land within a period of 6 months from signing the memorandum of understanding with the government in order to begin the necessary studies on the land, which include studies of wind speed, bird migration, and brightness levels. These studies come in preparation for signing final agreements, obtaining financing, and other matters. Project logistics.

This strategic step is a milestone in Egypt’s path towards achieving its goals in the field of renewable energy, and the huge investments allocated to these projects demonstrate Egypt’s firm commitment to diversifying energy sources and achieving sustainability goals.