CAIRO – 11 January 2026: Prime Minister Mostafa Madbouly attended a ceremony today marking the signing of agreements for two major renewable energy projects in the Suez Canal Economic Zone (SCZone), with a combined investment of over $1.8 billion.
The first project, developed by the Norwegian company Scatec, involves the construction of a large-scale solar power plant in Minya Governorate, named Valley for Sustainable Energy, Energy Valley, along with battery-based energy storage systems.
The second project, developed by the Chinese company Sungrow, will establish a manufacturing facility within SCZone for producing energy storage batteries. Part of the output from this factory will be supplied to the solar energy plant in Minya.
These projects are being carried out in collaboration with the Ministry of Electricity and Renewable Energy and the SCZone, according to a Cabinet statement.
An energy purchase agreement for the Energy Valley project was signed between the Ministry of Electricity and Renewable Energy, represented by the Egyptian Electricity Transmission Company, and Scatec. Additionally, a land usufruct agreement for the Minya site was signed between the New and Renewable Energy Authority and Scatec. For the battery manufacturing plant, Sungrow also signed a land usufruct agreement with the industrial developer Teda in SCZone.
Furthermore, Scatec and Sungrow finalized a supply order for the energy storage batteries that will support the Energy Valley project.
This initiative stands as one of the largest integrated clean energy projects globally, offering stable, clean electricity 24/7 at competitive rates. With a generation capacity of 1.7 gigawatts (AC) from photovoltaic solar energy, backed by 4 gigawatt-hours of battery storage systems, the project will span across Minya, Qena, and Alexandria.
The project will also involve the construction of new transformer stations and dedicated transmission lines to supply power to the Wadi Al-Sireriya industrial area in Minya.
Sungrow’s factory, set to be the first of its kind in the Middle East and Africa, will cover 50,000 square meters and produce up to 10 gigawatt-hours of battery storage capacity annually once fully operational, with production slated to begin in April 2027.
This project is pivotal in enhancing the stability and efficiency of Egypt’s national electricity grid and strengthens SCZone's role as a leading industrial hub attracting global investment.
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