Arab Finance: The New and Renewable Energy Authority (NREA) signed two landmark agreements with SCZONE Utilities and the Suez Canal Container Terminal Company (SCCT) for the transmission, distribution, and purchase of clean electricity for projects within the SCZONE, according to a statement.

Under the first deal, SCZONE Utilities will transmit clean electricity from NREA's energy power plants via the Egyptian Electricity Transmission Network into its power distribution grid to supply green energy to its contracted industrial and commercial consumers.

Meanwhile, SCCT inked a one-year power purchase agreement to secure a clean electricity supply directly from NREA's power plants to meet the terminal's power needs while reducing carbon emissions and fostering environmental sustainability at East Port Said Port.

Prime Minister Mostafa Madbouly emphasized the government's commitment to expanding clean energy across key projects, noting that these contracts contribute to achieving the state's goals for green transformation, enhancing the efficiency of ports and industrial zones, and boosting the competitiveness of the national economy.

For his part, Minister of Electricity and Renewable Energy Mahmoud Esmat outlined the sector’s strategy to localize industry and modern technology under the directives of President Abdel Fattah El-Sisi to generate 45% of its electricity from renewable energy sources by 2028.