Engie signed an agreement to further the development of renewable energy in Egypt. The cooperation agreement was signed between Engie and Egypt’s National Renewable Energy Association (NREA) and the Egyptian Electricity Transport Company (EETC). Engie and its partners are already conducting a number of renewable energy projects in Egypt such as the financing, construction, operation and maintenance of two 50-MW solar PV projects in Benban under Egypt’s FiT program, the two 50 MW wind projects Ras Ghareb and the West of Nile complex where Engie has prequalified for wind, solar PV and concentrated solar power build-own-operate projects. The Engie projects are all part of Egypt’s ambitions to promote the development of renewable electricity and to increase the share of renewables in the energy mix to 20% by 2022. Such renewable initiative also aims to address the tension between electricity demand and supply in Egypt, and to diversify Egypt’s energy mix. The French firm is also interested in developing its energy services activities and its offer for sustainable cities, taking the opportunity of the government’s “New Cairo” and “New urban planning of Suez Canal area” programs. Besides, in the Gulf of Suez, Engie is conducting with its partners Orascom and Toyota Tsusho, a 250-MW build-own-operate wind project.
