The agreement, signed at a ceremony in New Alamein City, was witnessed by Egypt’s Prime Minister Mostafa Madbouly. It is the latest in a series of agreements aimed at boosting Egypt’s renewable energy sector.
The signing ceremony was also attended by Egypt’s Minister of Electricity and Renewable Energy, Mahmoud Essmat, and the United Arab Emirates’ Minister of Industry and Advanced Technology, Sultan Al Jaber.
The agreement reflects Egypt’s strategy to maximize the role of renewable energy in its energy mix and to encourage private sector involvement in the construction of solar and wind power plants.
The agreements were signed by Mohamed El-Khayat, Chairperson of the New and Renewable Energy Authority; Salah Ezzat, Chairperson of the Egyptian Electricity Transmission Company; Nayer Fouad, Managing Partner of Infinity Power; and Mohamed Jameel Al Ramahi, CEO of Masdar.
Under the agreements, the consortium will develop, finance, and operate the project, which is expected to begin commercial operation in October 2026. The project will contribute to increasing the share of renewable energy in the electricity mix and strengthen the country’s efforts to achieve its renewable energy targets.
Following the signing ceremony, Prime Minister Madbouly underscored the commitment to implementing more targeted renewable energy projects as part of the country’s plan to expand electricity generation from these sustainable sources and reduce reliance on traditional energy sources.
“There is a strong belief that the future of energy in Egypt lies in renewable energy. Therefore, it is crucial to explore ways to integrate as much renewable energy as possible into the electricity grid,” Madbouly said.
Essmat added that the project aligns with the government’s plan to develop the renewable energy sector to maximize returns, utilize available natural resources, reduce the use of fossil fuels, and consequently, decrease carbon emissions.
“We are pleased to cooperate with the UAE’s Masdar, a leading company in the renewable energy field, to implement this important project,” the minister said. “The country has adopted an ambitious program to enhance the electricity sector across all areas, primarily by maximizing the utilization of renewable energy resources and encouraging investment in this field.”
