Egypt signed a number of renewable energy deals worth $1.8 billion on Sunday as it seeks to diversify its national power mix and position itself as a regional energy centre and exporter, the country’s state news agency said.
Prime Minister Mostafa Madbouly was present at the signing of the agreements in the Suez Canal Economic Zone.
Some of the deals signed were with Norwegian renewable energy developer Scatec, the company said.
Scatec said it had signed a power purchase agreement with the Egyptian Electricity Transmission Company for a total capacity of 1.95 gigawatts solar and 3.9 gigawatt-hours battery energy storage systems.
Scatec will be compensated under a 25-year, dollar-deno
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