en.Wedoany.com Reported - The Egyptian Electricity Transmission Company (EETC), the New and Renewable Energy Authority (NREA), and China's Sany Renewable Energy Co., Ltd have signed a memorandum of understanding to establish Egypt's first wind turbine manufacturing plant.
Under the agreement, the parties will build Egypt's first wind turbine factory to manufacture equipment and components for wind energy projects, while also targeting export markets in Africa and the Middle East.
The memorandum of understanding also covers the development of a 2,000 MW wind power plant in the northern Gulf of Suez region using the Egyptian pound, aligning with the national energy strategy. The strategy aims to increase the share of renewable energy in Egypt's energy mix to 45% within the next two years.
The project is expected to be connected to the national grid within 23 months of signing the agreement.
The agreement is part of a series of government efforts to localize renewable energy technology, increase the localization rate of renewable energy projects, expand electrical equipment manufacturing, and implement solar and wind energy projects using the local currency.
On the sidelines of the signing ceremony, Egyptian Prime Minister Mostafa Madbouly stated that renewable energy projects support the electricity sector and diversify energy sources, and that the localization of renewable energy-related industries contributes to energy security and the green transition.
Madbouly noted that President Abdel Fattah El-Sisi regularly reviews renewable energy projects, and pointed out that the government is coordinating with national entities and private sector partners to implement solar and wind energy projects, as well as energy storage systems, using the local currency.
He added that the government is expanding energy storage systems to support renewable energy integration and maintain national grid stability.
Minister of Electricity and Renewable Energy Mahmoud Esmat stated that the localization of electrical equipment manufacturing, especially for renewable energy projects, supports the national direction of implementing solar and wind energy projects using the Egyptian pound. He added that the ministry is identifying local manufacturing requirements for the sector.
Esmat also revealed that the wind turbine factory will have an annual production capacity of 2 GW and is expected to be completed within two years of signing the agreement.
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