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MOUs signed at COP 27 For Egypt’s Renewable Power | |
| Sumita Pawar |
According to the media, Egypt signed renewable energy production agreements with a number of foreign firms in November with a combined value of nearly $118 billion, a newspaper said on Friday.
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At the COP27 conference in the Sharm El-Sheikh resort, agreements were signed that covered solar, hydrogen, and other forms of energy.
"The agreement includes that it will turn the most populous Arab country into a "renewable energy big power," said the Arabic-language daily Addustour, which referred to a report by the New and Renewable Energy Authority."
The report said nine of the deals, dubbed "framework agreements," involve an investment of nearly $85 billion and a total production of 47,000 megawatts.
It went on to say that the Authority had signed 16 memorandums of understanding with regional and global companies for the production of green hydrogen, as well as other solar and wind power deals.
Officials said agreements signed at the COP conference would add nearly 55 gigawatts to its existing solar and wind power production, which concludes the report.
By Sumita Pawar