CAIRO- 12 January 2026: Norwegian company Scatec has reached preliminary financing agreements for the Energy Valley sustainable energy project in Egypt, which it is developing with an estimated investment of $1.8 billion.
This landmark project is being funded by the European Investment Bank, the European Bank for Reconstruction and Development (EBRD), and the African Development Bank.
The initiative involves constructing a large-scale solar power plant with a capacity of 1.7 gigawatts (AC) in Minya Governorate.
To enhance its sustainability, the plant will be complemented by energy storage systems with a combined capacity of 4 gigawatt-hours, with storage spread across Minya, Qena, and Alexandria.
In addition, the Chinese company Sungrow is undertaking a separate industrial project within the Suez Canal Economic Zone.
This includes the establishment of a factory for manufacturing batteries and energy storage systems as part of Sungrow's regional expansion.
On January 11, 2026, the company signed a usufruct agreement for the factory. A portion of the factory's output will support the Energy Valley project and meet the needs of both local and regional markets.
The Energy Valley project is poised to be one of the largest integrated clean energy developments globally.
It is the first of its kind in the region to deliver 24-hour clean, stable electricity at competitive tariffs.
The project’s infrastructure also includes the construction of four new substations, dedicated power transmission lines, and the supply of reliable energy to feed the new industrial zone in Wadi al-Sirriya, Minya.
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