Masdar Secures Approval for $900 Million Solar Energy Project in Egypt

The Egyptian government has given the green light to a proposal by Abu Dhabi Future Energy Company, commonly known as Masdar, to develop solar energy farms worth more than $900 million. This large-scale project, aimed at producing approximately 1,000 megawatts of electricity, will focus on Upper Egypt, with the Aswan Governorate being a primary location.

Under the Build, Operate, and Own (BOO) model, Masdar will oversee the entire process from financing to execution and operation of the project. The Egyptian Electricity Transmission Company (EETC) has committed to purchasing all electricity generated over the next 25 years. The solar farms, using advanced photovoltaic technology, are expected to be integrated into Egypt’s national grid by late 2025.

In addition to its financial and operational responsibilities, Masdar will also engage a local Egyptian partner to manage the civil engineering aspects of the project. This initiative plays a crucial role in Egypt’s wider ambition to increase its renewable energy share to 42% by 2035, adding to the momentum from a recently signed agreement for a 200-megawatt solar project in southern Egypt.