Kazar to invest $2.5 B in renewable power plant in Egypt
UAE-based investment firm Kazar plans to invest $2.5 billion in a hybrid renewable power plant in Egypt’s Zafarana region, in the east of the country.
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Egypt: UAE-based investment firm Kazar plans to invest $2.5 billion in a hybrid renewable power plant in Egypt’s Zafarana region, in the east of the country. The project, agreed upon with the Egyptian government, is set to have a capacity of 3.1 GW, combining 2 GW of solar energy and 1.1 GW of wind energy.
The build-operate-own (BOO) model will govern its implementation, with Kazar handling construction and operation. The state-owned Egyptian Electricity Transmission Company (EETC) will purchase the energy generated by the plant.
The project will replace the aging Zafarana Wind Farm, one of Africa’s largest wind farms, which has reached the end of its operational life. The Zafarana site spans 120 km2, houses 700 turbines, and produces 545 MW of electricity.
Energy from the new project will be purchased at competitive rates, averaging 2 cents per kWh for solar energy and 3 cents per kWh for wind energy. Kazar expects to finalize project studies and financial arrangements by the end of 2025, with on-site work starting in early 2026.
Source: Zawya
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