Overview
- Egypt signed $1.8 billion in renewable agreements on Jan. 11 in the Suez Canal Economic Zone, with Prime Minister Mostafa Madbouly attending.
- Scatec’s deal covers a 1.95 GW solar plant paired with 3.9 GWh of battery storage under a 25-year, US dollar–denominated pay-as-produced PPA, expected to deliver about 6,000 GWh annually.
- The company will build one integrated solar-plus-storage hybrid facility and two stand-alone battery projects, which it describes as the largest investment in its history.
- The Egyptian cabinet said Sungrow plans a battery factory in the zone, with part of its output designated for Scatec’s project.
- Officials frame the push against a forecast drop in gas output to about 43 bcm this year, alongside plans for regional interconnections such as the near-complete Saudi electricity link and longer-term export ambitions.