Egypt’s Ministry of Electricity and Renewable Energy has signed a $5 billion deal with Norwegian utility Scatec to develop a five-gigawatt wind farm in the country's south.
The country's cabinet confirmed that a tract of land in Sohag province had been set aside for the project.
The deal was signed on Wednesday at a ceremony attended by Egypt’s Prime Minister Mostafa Madbouly, Electricity Minister Mohamed Shaker and Norway’s ambassador in Cairo Hilde Klemetsdal.
The wind farm will also create 8,000 jobs for the province's residents, among the country’s poorest.
The farm will be one of many renewable projects launched over the past decade as Egypt aims to generate 42 per cent of its energy needs through renewables by 2030, the cabinet said.
Scatec has been operating in Egypt since 2017 after it signed a 25-year power-purchase agreement to export 380 megawatts generated by six Egyptian plants to Europe each year.
The company also signed an agreement with Egypt in May to build the North African country’s first green methanol production plant in the Nile delta province of Damietta.
The deal is expected to drum up a total of $450 million in foreign investment.
In 2022, Scatec also signed a $6 billion agreement with the Egyptian government to produce green hydrogen at a plant in the Red Sea city of Ain Sokhna.
Generating foreign investment in the electricity sector is a priority for the Egyptian government, the cabinet.
The Arab world's most populous nation is also endeavouring to become a bigger exporter of electricity to Europe through an undersea cable that will connect Egypt to Attica in Greece.
Expected to be completed in seven years, the undersea cable will transmit 3,000 megawatts from Egypt to Europe's power grid annually.
Scatec also owns and operates Benban solar park in Egypt's Aswan province, one of the world's biggest solar parks with a total capacity of 1.8 gigawatts.
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, (Leon banned).
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
Meydan race card
6.30pm: Maiden; Dh165,000; (Dirt) 1,200m
7.05pm: Handicap; Dh170,000; (D) 1,200m
7.40pm: Maiden; Dh165,000; (D) 1,900m
8.15pm: Handicap; Dh185,000; (D) 2,000m
8.50pm: Handicap; Dh185,000; (D) 1,600m
9.25pm: Handicap; Dh165,000; (D) 2,000m
Killing of Qassem Suleimani
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%3Cp%3E%3Cstrong%3EEdinburgh%3A%3C%2Fstrong%3E%20November%204%20%3Cem%3E(unchanged)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBahrain%3A%3C%2Fstrong%3E%20November%2015%20%3Cem%3E(from%20September%2015)%3C%2Fem%3E%3B%20second%20daily%20service%20from%20January%201%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EKuwait%3A%3C%2Fstrong%3E%20November%2015%20%3Cem%3E(from%20September%2016)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMumbai%3A%3C%2Fstrong%3E%20January%201%20%3Cem%3E(from%20October%2027)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAhmedabad%3A%3C%2Fstrong%3E%20January%201%20%3Cem%3E(from%20October%2027)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EColombo%3A%3C%2Fstrong%3E%20January%202%20%3Cem%3E(from%20January%201)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMuscat%3A%3C%2Fstrong%3E%3Cem%3E%20%3C%2Fem%3EMarch%201%3Cem%3E%20(from%20December%201)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ELyon%3A%3C%2Fstrong%3E%20March%201%20%3Cem%3E(from%20December%201)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBologna%3A%3C%2Fstrong%3E%20March%201%20%3Cem%3E(from%20December%201)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cem%3ESource%3A%20Emirates%3C%2Fem%3E%3C%2Fp%3E%0A
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
Credit Score explained
What is a credit score?
In the UAE your credit score is a number generated by the Al Etihad Credit Bureau (AECB), which represents your credit worthiness – in other words, your risk of defaulting on any debt repayments. In this country, the number is between 300 and 900. A low score indicates a higher risk of default, while a high score indicates you are a lower risk.
Why is it important?
Financial institutions will use it to decide whether or not you are a credit risk. Those with better scores may also receive preferential interest rates or terms on products such as loans, credit cards and mortgages.
How is it calculated?
The AECB collects information on your payment behaviour from banks as well as utilitiy and telecoms providers.
How can I improve my score?
By paying your bills on time and not missing any repayments, particularly your loan, credit card and mortgage payments. It is also wise to limit the number of credit card and loan applications you make and to reduce your outstanding balances.
How do I know if my score is low or high?
By checking it. Visit one of AECB’s Customer Happiness Centres with an original and valid Emirates ID, passport copy and valid email address. Liv. customers can also access the score directly from the banking app.
How much does it cost?
A credit report costs Dh100 while a report with the score included costs Dh150. Those only wanting the credit score pay Dh60. VAT is payable on top.
What is the FNC?
The Federal National Council is one of five federal authorities established by the UAE constitution. It held its first session on December 2, 1972, a year to the day after Federation.
It has 40 members, eight of whom are women. The members represent the UAE population through each of the emirates. Abu Dhabi and Dubai have eight members each, Sharjah and Ras al Khaimah six, and Ajman, Fujairah and Umm Al Quwain have four.
They bring Emirati issues to the council for debate and put those concerns to ministers summoned for questioning.
The FNC’s main functions include passing, amending or rejecting federal draft laws, discussing international treaties and agreements, and offering recommendations on general subjects raised during sessions.
Federal draft laws must first pass through the FNC for recommendations when members can amend the laws to suit the needs of citizens. The draft laws are then forwarded to the Cabinet for consideration and approval.
Since 2006, half of the members have been elected by UAE citizens to serve four-year terms and the other half are appointed by the Ruler’s Courts of the seven emirates.
In the 2015 elections, 78 of the 252 candidates were women. Women also represented 48 per cent of all voters and 67 per cent of the voters were under the age of 40.
