Egypt signs $1.8 billion in renewables deals

CAIRO, January 12, 2026 – Egypt has signed renewable energy agreements worth USD 1.8 billion to boost its clean energy generation and manufacturing capacity, Reuters reported on Sunday.

The deals include a contract with Norwegian renewables developer Scatec for a 1.95-GW solar plant with 3.9 GWh of battery energy storage in the city of Minya to deliver baseload power. Power output from the hybrid system will be sold under a 25-year, USD-denominated purchase agreement with the Egyptian Electricity Transmission Company, Scatec said in a separate statement.

Scatec also announced it will provide EPC, asset management and operations and maintenance services for the plant, and will also deliver two additional battery storage projects to provide support services and reinforce grid stability.

A second deal involves Chinese renewables technology company Sungrow, which will build a battery storage manufacturing facility in the Suez Canal Economic Zone, with a portion of the output earmarked to supply Scatec’s project.

Egypt is aiming to increase international participation in its clean energy sectors to meet the goal of generating 42% of its electricity from renewables by 2030.

Scatec engages in solar, wind and hydropower developments globally, and has been active in Egypt under various PPPS for solar power developments. Sungrow specialises in PV inverter technologies and energy storage systems for large-scale renewable infrastructure.

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