Renewable energy in Egypt: NREA projects generate €3.3 billion in foreign investment
The projects are implemented by many international companies specialized in the field of renewable energy. Projects are in development, including 78% for wind power plants in the Gulf of Suez region and 22% for solar power plants. Image: pexels The capacities of renewable energy projects under development in Egypt saw a notable increase in the third quarter of this year, reaching 3,570 MW, with foreign direct investments worth €3.3 billion, double that of the same period in 2020 , according to the New and Renewable Energy Authority (NREA). The projects are implemented by many international companies specialized in the field of renewable energy.Projects are in development, including 78% for wind power Burundi Email List plants in the Gulf of Suez region and 22% for solar power plants. The NREA is nearing completion of a 50 MW solar plant in the Zafarana area with investments of £700 million and is expected to begin operations in the third quarter of this year. A wind farm project with a capacity of 250 MW is also being developed in the Gulf of Suez area and is expected to be operational in the second half of next year.
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According to the periodic bulletin issued by the Renewable Energy Authority, hydropower production during the third quarter of fiscal year 2021/22 reached about 2,654 gigawatt hours , while wind energy projects recorded about 1,133 GW/h , while Energy produced from solar cells connected to the grid amounted to about 949 GW/h, as well as about 22 GW/h generated from biofuel projects. Over the same period, this contributed to reducing carbon dioxide emissions by approximately 2.25 million tonnes of carbon dioxide and generated fuel savings of approximately 881,000 tonnes of oil equivalent, highlighting the large role of energy. renewables to address climate change ahead of the next climate summit in Sharm El Sheikh (COP27, to be held in Egypt).
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