Egypt signs agreements for 1,500 MWh battery storage projects and a new production factory
via Egypt Today1 min read
Egypt has signed agreements with Al Nowais, Gotion, China Energy, and CEIG for the development of two standalone battery energy storage projects totaling 1,500 MWh. These projects include the 500 MWh Horus project in Zafarana and the 1,000 MWh Nefertiti project in Benban. The agreements also encompass the establishment of a factory with an annual production capacity of 3,000 MWh for battery energy storage systems. Minister of Electricity and Renewable Energy Mahmoud Esmat noted that battery storage systems were introduced to Egypt's national electricity grid last year. He emphasized the necessity of storage solutions to support grid stability and ensure a sustainable power supply, particularly with the expansion of solar and wind energy. Egypt aims to increase its battery energy storage capacity to 14,320 MWh by 2028.
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Cairo hosted high-level meetings on Sunday, July 19, 2026, aimed at supporting peace, security, and stability in the Horn of Africa. Minister of Foreign Affairs Badr Abdelatty held separate talks with Eritrean Foreign Minister Osman Saleh, Somalian Foreign Minister Abdisalam Abdi Ali, and Massad Boulos, Senior Advisor to the U.S. President on Arab and African Affairs. These quadrilateral consultations are part of ongoing coordination to enhance regional security, support peace efforts, and address security challenges. In their bilateral meetings, the foreign ministers of Egypt and Eritrea affirmed that the security and governance of the Red Sea are the exclusive responsibility of bordering countries, rejecting attempts by non-littoral parties to impose security arrangements or secure maritime access in violation of international law.
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Must ReadPresident Abdel Fattah El-Sisi has signed Law No. 78 of 2026, officially approving Egypt's economic and social development plan for the fiscal year 2026/2027. The plan aims to increase total resources to LE 31.23 trillion and raise gross domestic product to LE 24.51 trillion at current market prices. The government is targeting a real GDP growth rate of 5.4 percent. Investment expenditure for non-financial assets is set at LE 3.78 trillion, with LE 2.22 trillion allocated to the private and cooperative sectors. Public investments will total LE 1.56 trillion, including LE 553.7 billion in government investments, LE 743.4 billion for economic authorities, and LE 262.9 billion for public-sector companies.