– Egypt announces plans for two solar power stations, worth a combined $20.60 million, financed by the European Union.

– The projects, located at the Assiut Oil Refining Company and the Egyptian General Petroleum Corporation (EGPC), aim to generate 10 megawatts and 6.5 megawatts of power, respectively.

– With high levels of solar irradiation and vast desert expanses, Egypt seeks to position itself as a renewable energy hub, advancing its target to produce 42% of power from renewables by 2030.

Egypt announced plans to construct two solar power stations with a combined worth of 1 billion Egyptian pounds (USD20.60 million), funded by the European Union, according to the petroleum ministry.

One project, valued at 550 million Egyptian pounds, will be located at the Assiut Oil Refining Company and is projected to generate 10 megawatts of power upon completion within 11 months, according to the ministry’s statement.

Additionally, another initiative, set to produce electricity from solar energy, is slated for the Egyptian General Petroleum Corporation (EGPC), with a capacity of 6.5 megawatts, with an investment totaling 500 million Egyptian pounds (USD10.42 million).

Both endeavors will receive financial backing through an EU grant. Industry experts highlight Egypt’s significant renewable potential, buoyed by ample solar irradiation and vast desert expanses.

In a bid to expedite its transition to renewable energy sources, the government has advanced its target, aiming to derive 42% of its power generation from renewables by 2030, a five-year leap from the initial goal set for 2035.

Egypt endeavors to establish itself as a pivotal renewable energy hub in the region, although it faces stiff competition from neighboring countries across North Africa and the Middle East.