The United Arab Emirates (UAE) and Egypt have signed a series of Memoranda of Understanding (MoUs) to develop energy projects in Egypt, at the headquarters of the Egyptian parliament at the New Administrative Capital.
These agreements align with the two countries’ shared vision to promote sustainable economic growth and create new opportunities for industrial and technological investment in accordance with their developmental aspirations and plans.
The agreements aim to develop energy projects in Egypt and enhance strategic partnerships in key sectors, including industry and renewable energy generation, as well as the development of a joint UAE-Egypt industrial zone in East Port Said.
Dr. Sultan Al Jaber, Minister of Industry and Advanced Technology, emphasized the UAE’s commitment to exploring cooperation and joint investment opportunities in critical sectors, including advanced and sustainable industries, infrastructure, and renewable energy. These initiatives aim to foster growth and prosperity for both nations, strengthen supply chain sustainability and resilience, and enhance self-sufficiency.
The MoUs include agreements to establish two plants, one for solar cells and another for solar panels, each with a capacity of 2GW, as well as a battery energy storage facility with an initial capacity of 2GW.
Additional MoUs focus on clean energy initiatives, including the study of a 900 MW solar power plant in the Dakhla Oasis and a 300MW solar plant in Benban, Aswan Governorate, both equipped with energy storage systems.
Furthermore, plans include a 3GW floating photovoltaic solar plant on Lake Nasser and a 2GW solar plant in northern Naga Hammadi.
The signed projects include the development of a UAE-Egypt industrial zone in East Port Said. The agreement was signed by Ahmed Al Mutawa, Regional CEO of AD Ports Group, and Walid Gamal El Din, Chairman of the General Authority for the Suez Canal Economic Zone (SCZONE).
Covering an area of 20 square kilometers, the land is designed to attract domestic and international investments in key industries such as renewable energy, manufacturing, and advanced technologies. This project aims to enhance the zone’s status as an integrated industrial and logistical hub, contributing to Egypt’s sustainable economic growth.
Another MoU was signed to establish two plants in partnership between Global South Utilities (GSU), and Industrial Modernization Centre (IMC). One plant is set to produce solar cells with a capacity of 2GW, and the other will produce solar panels with the same capacity, addressing local market needs and boosting exports to regional and international markets. The agreements were signed by Doaa Salima, CEO of IMC, and Ali Al Shimmari, CEO of GSU.
Two MoUs were also signed for energy storage plants. The first agreement was signed by Salima with Al Shimmari and Dorian Barag, CEO of Weigheng, for a plant with a capacity of 2GW. The second agreement, also signed by Salima, was made with Khalifa Al Khouri, Chairman of Encap and APEX national Investment, and Al Shimmari to explore the establishment of an additional battery storage production facility.
Moreover, Masdar, Infinity Power, and Hassan Allam Utilities signed a principal agreement with the Egyptian Electricity Transmission Company to support Egypt’s renewable energy initiatives. This agreement includes two power purchase agreements for the establishment of solar power plants with a capacity of 1.2GW and battery energy storage systems with a capacity of 720MWh, marking a significant milestone in Egypt’s clean energy development.
Masdar signed an MoU with the Future of Egypt for Sustainable Development Authority to develop a floating photovoltaic solar plant on Lake Nasser, with a capacity of up to 3GW. The development of this station, anticipated to be the largest project of its kind globally, will benefit from Masdar’s extensive experience in developing floating solar power stations. It is expected to significantly support Egypt’s efforts to rely on sustainable energy solutions.
Masdar signed another agreement with the Future of Egypt for Sustainable Development Authority to establish a 2GW solar power plant in northern Naga Hammadi.
Dr. Sultan bin Ahmed Al Jaber UAE Minister of Industry& Advanced Technology
“In line with the UAE leadership vision, these agreements with Egypt, embody the depth of the close relations between both countries. They reflect a shared vision that emphasizes the importance of industrial integration, the growth of the renewable energy sector, and the development of the necessary infrastructure in the East Port Said Industrial Zone to successfully execute these significant projects. The agreements aim to establish industrial projects for renewable energy generation in Egypt, grounded in strategic and economic foundations. They will also create new job opportunities, facilitate the exchange of knowledge and expertise, promote the transfer of global practices, and contribute to reducing carbon emissions while advancing sustainability efforts.”
Dr. Mostafa Madbouly, Prime Minister of Egypt, highlighted that Egypt continues to support the growth of the industrial sector, under the directives of President Abdel Fattah El-Sisi to achieve optimal benefit from Egypt’s capabilities in this sector.
Dr. Madbouly added that, “The MoUs contribute to the implementation of Egypt’s Integrated Sustainable Energy Strategy 2035 to meet the growing demand for energy, improve efficiency, shift towards renewable energy, and enhance energy security. They also contribute to the development of clean energy infrastructure, and seek to provide effective solutions for energy storage that meet the needs of the local and regional markets, which contributes to enhancing sustainable development and achieving environmental and economic goals.”
Strategically located along the Mediterranean Sea, the UAE-Egypt Industrial Zone, established under SCZONE, has recently undergone significant developments to attract local and international investments across various sectors, including manufacturing, technology, and renewable energy.
With the new agreements, AD Ports Group will play a key role in developing the infrastructure of this industrial zone, creating an appealing environment for companies and investors while supporting Egypt’s economy.
Through these agreements, the UAE aims to open new horizons for cooperation and investment in industry and renewable energy with Egypt, thereby supporting sustainable economic growth and helping to achieve the strategic objectives of both nations.
