STORY: Egypt signs 2 MoUs for producing 5,200 MW of electricity from new, renewable resources
SHOOTING TIME: Nov. 14, 2024
DATELINE: Nov. 16, 2024
LENGTH: 0:00:32
LOCATION: Cairo
CATEGORY: ECONOMY

SHOTLIST:
1. various of MoUs Signing Ceremony (Source: Egyptian Cabinet)

STORYLINE:

Egypt signed on Thursday two memoranda of understanding (MoUs) for producing 5,200 megawatts of electricity from new and renewable energy sources, according to a statement from the cabinet.
   
"The total capacity of these projects will reach 5,200 megawatts, including 3,100 megawatts generated from wind power and 2,100 megawatts from solar energy," the statement said.
   
The first MoU was signed between the Egyptian Electricity Transmission Company (EETC) and the New and Renewable Energy Authority (NREA), and Alcazar Energy Partners, a Dubai-based leading independent investor in renewable energy across growth markets, for starting studies and assessments for a wind energy project with a total capacity of 2 gigawatts, the statement said.
   
The second deal was signed between the EETC and NREA, and the TAQA Arabia-Voltalia consortium for initiating studies and assessments for a renewable energy project that will generate 1.1 gigawatts from wind energy and 2.1 gigawatts from solar energy, it said.
   
The two MoUs are part of Egypt's national strategy for integrated and sustainable energy, which aims to increase the share of renewable energy in the national energy mix up to 42 percent by 2030 and over 60 percent by 2040, it added.

Xinhua News Agency correspondents reporting from Cairo.
(XHTV)