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ENERGY

Egypt signs renewable energy deals worth $1.8 billion


A natural gas power plant in western Cairo. (Credit: Amir Makar/AFP)

Egypt signed on Sunday a number of renewable energy deals worth $1.8 billion, state TV reported.

Among the deals were contracts with Norwegian renewable energy developer Scatec and China's Sungrow.

Egypt hopes to have renewable energy reach 42 percent of its electricity generation mix by 2030, but officials say the goal will be at risk without more international support.

The first project will be the construction by Scatec of a solar energy plant to generate electricity and energy storage stations in Upper Egypt's Minya, an Egyptian cabinet statement said.

Egypt signed on Sunday a number of renewable energy deals worth $1.8 billion, state TV reported.

Among the deals were contracts with Norwegian renewable energy developer Scatec and China's Sungrow.

Egypt hopes to have renewable energy reach 42 percent of its electricity generation mix by 2030, but officials say the goal will be at risk without more international support.

The first project will be the construction by Scatec of a solar energy plant to generate electricity and energy storage stations in Upper Egypt's Minya, an Egyptian cabinet statement said.