The two wind energy projects are set to have a combined capacity of 8 gigawatts
This came during the NREA’s first 2024 board of directors meeting, headed by Mohamed Shaker, Minister of Electricity and Renewable Energy. The meeting discussed the authority’s draft budget for the upcoming fiscal year.
The project comes within the framework of Egypt's Green Corridor Initiative, and upon completion, the project will save an estimated $1 billion annually by decreasing annual natural gas costs
The purpose of this agreement is to cooperate to prepare for implementing a project to export renewable energy to Europe via the Mediterranean
Through the MoU, they will prepare a technical, economic, and financial feasibility study for establishing a 2,000-megawatt pumping and storage station with a BOO system
