China Electric Power Equipment and Technology has joined hands with the Egyptian government to explore a massive solar undertaking in Egypt. Inking a significant memorandum of understanding (MoU), both parties aim to delve into the potential of establishing a 10-gigawatt (GW) solar project in this North African nation.

The MoU, signed with the New and Renewable Energy Authority (NREA) and the Egyptian Electricity Holding Company (EEHC), marks the commencement of initial studies for this ambitious venture. The Egyptian Cabinet made this announcement on Wednesday, highlighting the collaborative efforts in this groundbreaking initiative.

The signing ceremony saw the presence of Egypt's Prime Minister Mostafa Madbouly and the Minister of Electricity and Renewable Energy, Mohamed Shaker.

This colossal solar energy endeavor, upon completion, anticipates generating approximately 29,784 gigawatt-hours (GWh) of clean energy annually. Such a prodigious output is projected to curtail nearly 14 million tons of carbon dioxide emissions. Furthermore, the solar park's operation is estimated to yield an annual savings of around USD 1 billion (EUR 907m) by reducing natural gas expenses.

This project aligns with Egypt's Green Corridor Initiative, forming a crucial part of the nation's strategy to elevate renewable sources to 42% of its power mix by the year 2030. The initiative signifies a significant step toward sustainable and eco-friendly energy production within the country.

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