Egypt signs preliminary financing agreement on $650 million solar project in Upper Egypt
26/10/2026 15:11
Egypt signs preliminary financing agreement on $650 million solar project in Upper Egypt CAIRO, Oct 26 (Reuters) - Egypt has signed a preliminary financing agreement with Norway's Scatec SCATC.OL and three multilateral development banks for a $650 million solar power project in the southern province of Qena, the cabinet said on Monday.
Egypt is scaling up renewable energy projects to reduce its natural gas import bill, targeting a 42% share of renewable energy in its electricity generation mix by 2030.
(Reporting by Momen Saeed Atallah
Writing by Muhammad Al Gebaly
Editing by David Goodman)
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Egypt signs preliminary financing agreement on $650 million solar project in Upper Egypt (updated)