The first project, developed by the Norwegian company Scatec, involves the establishment of a massive solar power plant in the Minya Governorate, under the name Valley for Sustainable Energy, Energy Valley, along with energy storage stations using battery systems.
Mostafa Madbouly, Prime Minister, attended the signing ceremony of several agreements related to the development of two integrated renewable energy projects in Suez Canal Economic Zone (SCZone), with investments exceeding $1.8 billion.
The first project, developed by the Norwegian company Scatec, involves the establishment of a massive solar power plant in the Minya Governorate, under the name Valley for Sustainable Energy, Energy Valley, along with energy storage stations using battery systems.
The second project, developed by the Chinese company Sungrow, will establish a factory in SCZone for manufacturing energy storage batteries, with a portion of the production to be supplied to the solar energy project in Minya.
The two projects are being carried out in cooperation with the Ministry of Electricity and Renewable Energy and SCZone, according to a statement from the Cabinet.
Additionally, an energy purchase agreement for the Energy Valley project was signed between the Ministry of Electricity and Renewable Energy, represented by the Egyptian Electricity Transmission Company, and the Norwegian company Scatec.
A land usufruct agreement for the project site in Minya was also signed between the New and Renewable Energy Authority and Scatec.
Regarding the energy storage battery factory, a land usufruct agreement was signed for Sungrow within the industrial developer Teda in SCZone.
Furthermore, a supply order for the energy storage batteries for the Energy Valley project was signed between Scatec and Sungrow.
This project is one of the largest integrated clean energy projects globally and the first in the region to provide stable, clean electricity 24/7 at a competitive tariff.
The project's generation capacity will reach 1.7 gigawatts (AC) of photovoltaic solar energy in Minya, supported by battery storage systems with a total capacity of 4 gigawatt-hours, distributed geographically across Minya, Qena, and Alexandria.
The project will also include the construction of new transformer stations and dedicated electricity transmission lines to supply power to the industrial area in Wadi Al-Sireriya, Minya.
The Sungrow factory will be the first in the Middle East and Africa to produce energy storage battery systems, covering 50,000 square meters.
The factory aims to localize a strategic industry, with a production capacity of up to 10 gigawatt-hours per year upon full operation, set to start production in April 2027.
This project supports the efficiency and stability of Egypt's national electricity grid and enhances the Suez Canal Economic Zone's position as an integrated industrial hub capable of attracting global investments.
