Egypt’s PM, Tahya Misr, ministries ink 4,750MW renewable energy deal

CAIRO - 3 May 2026: PM Mostafa Madbouly witnessed the signing of a protocol between Tahya Misr Holding Company for Investment and Development and the ministries of electricity and finance to finance a series of major renewable energy projects.

The agreement involves establishing 4,750MW wind power projects in the Suez Gulf, Ras Shukeir, Galala, and Zafarana regions.

Additionally, the deal includes 4,000MWh independent battery energy storage systems (BESS) located in South Cairo, Damanhour, and Wadi El Natrun.

Electricity Minister Mahmoud Esmat said the government aims to reach a 45% renewable energy share in the national power mix by 2028.

Under the agreement, Tahya Misr will provide the necessary financing and execution. Esmat noted that energy produced from these projects will be priced in Egyptian pounds, matching accounting rates used with other developers.

The projects are scheduled to be completed and linked to the national grid within two years.

Finance Minister Ahmed Kouchouk and Tahya Misr Managing Director Mahmoud Nour also attended the signing.

Esmat emphasized that the inclusion of battery storage is vital for stabilizing the unified grid, particularly during peak hours, as Egypt intensifies its transition to green energy and increased private sector participation.