Deal #10385

Egypt, Arab Rep.
Created at
2024-06-14
Last update
2024-11-27

Land area

Intended size
1 000 ha
Size under contract (leased or purchased area)
  • [2020, current] 1000 ha
Comment on land area
Contract area has an area of around 10 km2.

Intention of investment

Intention of investment
  • [2021, current] Solar park (1000 ha)
Comment on intention of investment
Solar park for electricity generation.

Carbon offset project

Carbon offset project
No
Comment on carbon offset project
The project will lead to avoided GHG emission, but it does not certify carbon sequestration credits.

Nature of the deal

Nature of the deal
Lease
Comment on nature of the deal
New and Renewable Energy Authority through the government of Egypt has granted the Developer full access rights for the Project area for the development of a 500MW Solar PV Project in February 2020. A Land Lease Agreement was also signed between NREA and the Developer on 30 December 2020, for a duration of 25 years.

Negotiation status

Negotiation status
  • [2020-02, current] Concluded (Contract signed)
Comment on negotiation status
Contract was signed.

Implementation status

Implementation status
  • [2020, current] Startup phase (no production)
Comment on implementation status
Under advanced development operation will start in 2024. Not clear as of now if construction was finished.