Implementation is imminent for two renewable energy projects in Egypt. This was revealed following an announcement by Al Nowais Investments, through its President Hussain Al Nowais, that it would invest US $ 1 billion in the execution of said projects, the total capacity of which is 1000 MW.
Al Nowais is a private regional holding company headquartered in Abu Dhabi, United Arab Emirates, which through its subsidiaries invests in healthcare, information, communication and technology, contracts , engineering and industrial services, building materials, real estate, hotels and projects. development industries.
An overview of upcoming renewable energy projects in Egypt
The two renewable energy projects in Egypt include a 500 MW solar power plant to be built in Kom Ombo in the governorate of Aswan, in the south of the country of North Africa, and a wind power plant of the same capacity in Ras Gharib. the the coast of the Red Sea.
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The completion of the construction of the two renewable energy power plants is expected in the next two or three years according to Mr. Al Nowais. The electricity produced by the power plants will be fed into the national grid and, therefore, will help reduce imports of electricity from neighboring countries.
Completion of the project will also mark an important step in the country’s energy transition, as it aims to produce 22% of its electricity from renewable sources by next year (2022), 42% 8 years later ( by 2030) and 50% by 2035.
Investing in the green hydrogen sector
On the sidelines, Hussain Al Nowais also expressed his company’s interest in investing in the green hydrogen sector in this North African country, saying that Al Nowais Investments is currently organizing a consortium, including German companies, Japanese and Italian companies to produce green ammonia that could be used as a clean fuel source for aircraft.