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Egypt Grants Golden License for $750 Million Minya Solar Project

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Egypt's Cabinet approved a $750 million solar and storage project in Minya, expanding renewable power capacity and supporting new jobs, the country's State Information Service said Thursday.

The cabinet granted Nefer Minya for Renewable Energy a golden license for the project, which will generate 1,000 megawatts and provide 600 megawatt-hours of electricity storage in West Minya.

The company will develop the facility across a 20-square-kilometer site on the West Bank of the Nile in Minya Governorate, with construction scheduled for completion by Sept. 30, 2027.

The project could employ around 2,500 engineers, technicians and workers during construction, while its operation will create additional jobs, the State Information Service said.

The facility will support environmental sustainability, conserve natural resources and cut carbon emissions by 1 million metric tons annually, the State Information Service said.

Separately, the cabinet approved free allocation of a 600-square-meter state-owned plot in Hurghada for a medium-voltage electricity distribution board, the agency said.

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