Egypt approves Orascom's renewable energy ventures

The Egyptian Cabinet has given the green light to the Orascom Construction Alliance, featuring Engie from France and Toyota Tsusho from Japan, to establish renewable energy projects ranging from 150 to 200 megawatts. Notably, the alliance has already successfully developed a 262.5 MW wind farm in Ras Gharib, overlooking the Red Sea.

Egypt, with its abundant sunlight, strong winds, and expansive deserts, boasts substantial potential in renewable energy. The government has accelerated its renewable energy goals, targeting 42% of electricity generation from renewables by 2030 instead of 2035.