Egypt Grants Golden Licenses for Two 900 MW Wind Projects

The Egyptian Cabinet, headed by Prime Minister Dr. Mostafa Madbouly, approved 17 decisions during its meeting in the New Administrative Capital, including granting golden licenses to two wind energy projects with a capacity of 900 MW each, totaling 1,800 MW, targeted for completion in 2028.

The decisions included a 30% discount on electricity bills for six months for users of code meters installed before 2024, at a cost of approximately 3 billion Egyptian pounds (EGP 3 billion). The measure aims to ease the burden on households that have not yet switched to legalized meters.

The Cabinet also approved extending the application period for alternative housing units by three additional months. This step comes as part of a package covering electricity, housing, and renewable energy, combining measures to relieve living expenses with incentives for investment in clean energy projects.

These decisions align with the Egyptian government's drive to expand renewable energy capacity and support investment in wind projects, as golden licenses provide investors with a unified framework for approvals and licensing instead of obtaining separate approvals from multiple entities.

What do these terms mean?

Golden License: A single comprehensive approval issued by the government for a project, eliminating the need to obtain separate licenses from multiple entities.

Megawatt: A unit of measurement for electricity production capacity; one megawatt equals one million watts, enough to power hundreds of homes simultaneously.

Code Meter: A temporary electricity meter installed in buildings before regularization procedures are completed, charging the user based on estimated consumption or a tiered tariff system.