The investment involves two primary components designed to work in synergy:
The Energy Valley Project developed by Norway’s Scatec. This
mega solar plant in Minya Governorate will be the first in the region to
provide stable, 24-hour clean electricity through an integrated battery storage
system.
SUNGROW Battery Factory developed by China’s Sungrow Power
Supply. This facility in the Suez Canal Economic Zone (SCZONE) will be the
first of its kind in the Middle East and Africa to manufacture Battery Energy
Storage Systems (BESS).
Project technical specifications: Solar Capacity: 1.7 GW (AC)
of solar PV located in Minya.
Storage Capacity: 4 GWh of battery storage distributed
across Minya, Qena, and Alexandria to ensure national grid stability.
Manufacturing Output: The SUNGROW factory, spanning 50,000
square meters in the TEDA-Egypt industrial zone, will reach an annual capacity
of 10 GWh at full operation.
Timeline: Production at the SUNGROW facility is scheduled to
begin in April 2027, creating approximately 150 direct jobs.
Madbouly emphasized that these projects align with the
state’s vision to localize renewable energy industries and enhance local value
chains. "Attracting such specialized investments reflects the confidence
global firms have in Egypt’s investment climate," Madbouly noted.
Minister of Electricity and Renewable Energy, Engineer Mahmoud
Esmat, added that the "Energy Valley" project would utilize batteries
produced locally at the new Sungrow factory, showcasing a successful
partnership between the state and international private sectors to deploy
cutting-edge technology.
Key agreements signed:
Power Purchase Agreement (PPA): Signed between the Egyptian
Electricity Transmission Company (EETC) and Scatec’s project vehicle,
"Valley for Sustainable Energy."
Land Usufruct Agreement: Secured between the New and
Renewable Energy Authority (NREA) and Scatec for the Minya site.
Manufacturing Land Contract: Signed between SUNGROW and TEDA-Egypt
for the SCZONE factory site.
Supply Order: Scatec officially issued a supply order to
SUNGROW for the battery storage systems required for the Energy Valley project.
Waleed Gamal El-Din, Chairman of the SCZONE, stated that the Sungrow factory reinforces the region's position as a premier industrial hub for green transition technologies. The integrated project will not only stabilize the national grid but also provide steady clean energy to the Wadi Al-Saririya industrial zone in Minya.