The second phase follows the successful commissioning earlier this year of the project's first 500-megawatt solar plant and a connected battery energy storage system with a capacity of 200 megawatt-hours.
The project will involve the establishment of an automated solar panel production facility under the name Arab-Swedish Energy Factory (ASEF), with a production capacity of 1 GW annually
These initiatives have already added 4.7 gigawatts of renewable energy capacity and are expected to reduce carbon dioxide emissions by approximately 17 million tons annually, while saving $1.2 billion each year in fuel costs previously allocated for thermal power plants.
The project agreement with the Egyptian Electricity Transmission Company extends 25 years, with a total investment cost of SR 611 million.
