International consortium eyes $15bn renewable energy complex in South Sinai

An international consortium is studying a plan to invest $15bn over the next decade in a large-scale renewable energy complex in the Jabal Al-Tur area of South Sinai, Al Ahram reported on November 30, citing a senior government official.

The project will be implemented in partnership with Egypt’s Ministry of Military Production. According to the official, the consortium is led by Renergy Group Partners, with Green Tech Egypt serving as the technical partner and OAK Holding acting as the financial and investment partner.

The project will be implemented in three phases, starting with an estimated $6.7bn first phase designed to generate 1.25 GW of renewable energy by 2030. Initial technical and environmental studies are expected to be completed next year. Once fully executed, the complex will have an operational lifespan of 50 years, the official said.

A portion of the solar power generated will also supply a seawater desalination plant that will produce the water needed for green hydrogen production, according to Asharq Business.  Official documents indicate that the project will become Egypt’s first large-scale green hydrogen facility, spanning 100 square kilometres and operating entirely off-grid, powered by up to 15GW of solar energy to ensure continuous, low-cost hydrogen output.

Upon completion, the plant is projected to produce around 400,000 tonnes of green liquid hydrogen annually, all earmarked for export to European markets eager to secure low-carbon energy supplies.

Egypt's national plan, the Integrated Sustainable Energy Strategy (ISES) 2035, aims to significantly increase the share of renewable energy in its electricity mix, targeting 42% by 2030 and potentially 60% by 2040.