Egypt is accelerating its green energy transition with a significant $1.8 billion investment in new renewable projects.
The cornerstone of this initiative is a major contract with Norwegian firm Scatec to build a massive 1.7-gigawatt solar plant in Minya, supported by substantial battery storage to stabilize supply.
At the same time, a new Sungrow factory in the Suez Canal Economic Zone will manufacture energy storage batteries, with part of its output feeding the Minya project.
Together, the projects will add several gigawatts of clean capacity and strengthen Egypt’s local energy supply chain, moving Cairo closer to its goal of sourcing 42% of its electricity from renewables by 2030.
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The financing is designed to cushion energy costs while supporting Botswana’s private-sector and jobs reforms.