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Rather than investing in Israeli projects that bypass the Suez Canal, Egypt must reduce tensions on the Red Sea and restore the flow of ships through this vital global trade corridor
Egypt signed with a consortium led by ACWA Power an agreement for a 1.1-gigawatt wind energy production project in the Gulf of Suez and Gabal El-Zeit regions, with $1.5 billion in investments, the Egyptian cabinet stated Wednesday. The agreement was signed between the Egyptian New and Renewable Energy Authority (NREA) and ACWA Power-led consortium that also includes Hassan Allam Utilities.
Egypt has signed a 25-year land usufruct agreement (legal right granted to a person or party which grants a temporary right to use/derive income/benefit from the property of another individual) for a colossal wind power project. The agreement, signed between the consortium led by Saudi-listed ACWA Power and the Egyptian New and Renewable Energy Authority
Analysis: Israel's war in Gaza is undermining stability in the Red Sea, creating complications for the geostrategic interests of competing regional actors.
The Ministry of Oil and Mineral Resources of Egypt has announced a tender for the exploration and development of oil fields in 23 new zones...