Egypt has signed preliminary financing terms for a 1 GW solar project in Qena. Once operational, the plant is expected to supply about one-third of the electricity Aluminium Company of Egypt needs for its operations.
The project aims to reduce emissions from energy-intensive aluminum production and improve the international competitiveness of the company’s exports as environmental standards and requirements tighten in global markets. The agreements mark a key step toward finalizing the project’s financing and beginning implementation.