Egypt inked a memorandum of understanding with a Chinese firm to commence preliminary studies for a groundbreaking ten-gigawatt solar energy project.
The signing involved key entities from both countries, including the New and Renewable Energy Authority (NREA), the Egyptian Electricity Holding Company (EEHC), and the China Electric Power Equipment and Technology Company (CEPETC), aligning with Egypt’s “Green Corridor initiative.”
The envisioned solar project aims to save approximately one billion US Dollars in natural gas costs, producing 29,784 gigawatts per hour of clean energy annually and contributing to a significant reduction in carbon dioxide emissions.
This strategic move is part of Egypt’s overarching strategy to enhance renewable energy capacity and curtail reliance on fossil fuels, aligning with the nation’s sustainable development targets.
Egypt’s Minister of Electricity and Renewable Energy, Mohamed Shaker, emphasized the country’s commitment to advancing the electricity sector, maximizing the utilization of renewable energy, and attracting private sector investments to reduce carbon emissions and foster sustainable economic growth.
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