Masdar, ACWA Power, and the Egyptian Electricity Holding Company (EEHC) signed a MoU that will have the three potentially developing up to 4 GW of renewable and natural gas power generation projects in Egypt. The MoU was signed during the Egypt Economic Development Conference.
The non-binding framework is aimed at increasing Egypt’s power generation to meet its ever growing power demands and support economic growth.Masdar would lead development of renewable energy projects.
According to the MoU, the partners will evaluate 2 GW of renewable energy projects, including 1.5 GW of solar and 500 MW of wind. The first project that would be considered is a 200-MW solar PV plant.
The framework agreement also calls for development of 2.2 GW of combined-cycle natural gas generation led by ACWA Power.