The Egyptian government has approved a proposal from Abu Dhabi Future Energy Company (Masdar) to establish solar energy farms valued at over $900 million. The project aims to generate approximately 1,000 megawatts of electricity and will be developed in Upper Egypt, including Aswan Governorate.
Masdar will implement, finance, and own the project under the BOO (build, operate, and own) model, with the Egyptian Electricity Transmission Company (EETC) committing to purchasing the entire production over the site’s estimated 25-year lifespan. The projects are set to be connected to Egypt’s national electricity grid by the end of 2025, utilising photovoltaic cells for electricity generation. Additionally, Masdar is expected to collaborate with an Egyptian partner for civil engineering works.
This initiative is part of Egypt’s broader plan to increase its renewable energy capacity to 42% by 2035, building on a recent contract for a 200-megawatt solar energy project in southern Egypt.