Arab Finance: Egypt's Cabinet has approved amendments to the regulatory rules governing the licensing of land-use licenses for renewable energy projects, expanding the framework to include battery energy storage projects needed to support the stability of the national electricity grid, as per a statement.
The amendments add battery storage projects required to enhance grid stability and accommodate the growing capacities of renewable energy generation projects to the list of activities regulated under Cabinet Resolution No. 54 of 2023.
Under the revised rules, a fee will be established for the right to use land allocated to battery storage projects. The fee will be determined in accordance with regulations set by the government and will be no less than 2% of the annual fee associated with the energy available from battery storage projects.
The move comes as Egypt continues to expand its renewable energy capacity and seeks to strengthen the flexibility and reliability of its electricity network.
