Masdar, Infinity Power, and Hassan Allam Utilities have partnered with the Egyptian Electricity Transmission Company (EETC) to deliver large-scale solar energy projects.
The agreement, signed at a ceremony in Al-Alamein City, includes two Power Purchase Agreements (PPAs) for solar projects totaling 1.2 gigawatts (GW) and 720 megawatt-hours (MWh) of Battery Energy Storage Systems (BESS). This landmark initiative underscores Egypt’s commitment to achieving its ambitious clean energy targets.
According to Amr Allam, Co-CEO of Hassan Allam Holding, the partnership is a significant step in the country’s renewable energy transition. He emphasized the vital role of the private sector in accelerating Egypt’s clean energy ambitions.
“We are excited to commence this long-term partnership with Masdar and IPH through this 1.2 GW solar investment, which is the first project of an important pipeline of renewable energy and green hydrogen projects in Egypt.
“The private sector, in partnership with the government, plays a key role in advancing Egypt’s renewable energy production, and we are proud to play our part in this partnership.”
Amr Allam, Co-CEO of Hassan Allam Holding
The official signing ceremony for the agreement took place at the Egyptian Cabinet in Al-Alamein city.
The event was graced by high-profile figures, including Egyptian Prime Minister Dr. Moustafa Madbouli, UAE Minister of Industry and Advanced Technology Dr. Sultan Al Jaber, and senior executives from the involved companies.
Mohamed Jameel Al Ramahi, CEO of Masdar, represented the consortium at the event, alongside Mona Rizk, Chairperson of EETC, who also signed the agreement.
Speaking at the ceremony, Masdar’s CEO, Mohamed Jameel Al Ramahi, highlighted the significance of the partnership for both Egypt and the global renewable energy sector.
“This agreement reflects Masdar’s dedication to advancing the clean energy transition in Egypt and around the world,” he stated.
“By leveraging the combined expertise of Masdar, Infinity Power, and Hassan Allam Utility, we are not only supporting Egypt’s renewable energy goals but also helping to build a more sustainable future for generations to come.”
Mohamed Jameel Al Ramahi, Masdar’s CEO
Strategic Goals and Long-Term Commitment
The partnership is part of a broader strategy between Masdar, Infinity Power, and Hassan Allam Utilities, which aims to develop up to 11 GW of renewable energy capacity in Egypt.
This ambitious goal underscores the importance of scaling up renewable energy investments to meet the country’s growing electricity demand and decarbonization objectives.
Mohamed Ismail Mansour, Chairman of Infinity Power, expressed the company’s enthusiasm about the partnership.
“We are proud to be part of this landmark agreement, which aligns with our mission to drive the clean energy transition in Egypt and across the continent.
“These projects will not only contribute to reducing carbon emissions but also ensure sustainable energy access for millions of people.”
Mohamed Ismail Mansour, Chairman of Infinity Power
Infinity Power has also set a target to achieve 10 GW of operational capacity by 2030. Eng. Nayer Fouad, CEO of Infinity Power, emphasized the strategic importance of the project.
“This agreement represents a key milestone in our journey towards achieving 10 GW of operational capacity by 2030.
“These solar projects will significantly strengthen Egypt’s position as a leader in renewable energy and serve as a catalyst for further green investments in the region.”
Eng. Nayer Fouad, CEO of Infinity Power
As Egypt positions itself as a leader in renewable energy in Africa, the country is also helping to set the stage for other nations on the continent to follow suit. Africa’s growing population and increasing energy needs make the transition to sustainable energy even more crucial.
Fast-tracking projects like those in Wahat and Benban not only meet local energy demands but also contribute to broader regional goals of energy access, sustainability, and climate action.
Egypt’s renewable energy initiatives are in line with global climate commitments, including those made under the Paris Agreement.
These solar power plants will contribute significantly to the country’s decarbonization efforts while fostering economic growth, job creation, and the development of a green economy.
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