Egypt, Japan’s Yurtec sign deal for Hurghada solar project 

Egypt, Japan’s Yurtec sign deal for Hurghada solar project 
The agreement was signed by NREA Chairman Ehab Ismail and Yurtec representative Osamu Sakagami. Facebook/@EgyptianCabinet
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Egypt, Japan’s Yurtec sign deal for Hurghada solar project 

Egypt, Japan’s Yurtec sign deal for Hurghada solar project 

RIYADH: Egypt’s New and Renewable Energy Authority signed an agreement with Japan’s Yurtec Co. and local partners to build a 20-megawatt solar plant and battery facility in Hurghada. 

The consortium, which also includes Egypt’s Solar Installer and REDCON Construction, will develop a 30-MWh battery energy storage system alongside the solar farm, the authority said in a statement.  

The project is part of cooperation with the Japan International Cooperation Agency and aligns with Egypt’s plan to raise renewable energy’s share of total power generation to over 42 percent by 2030 and 60 percent by 2040. 

It is also aligned with the North African country’s National Energy Strategy, which aims to reduce reliance on fossil fuels, protect the environment, and boost economic returns. 

Egypt’s Minister of Electricity and Renewable Energy, Mahmoud Esmat, said: “We are working with international partners to promote the use of renewable energy, reduce carbon emissions, and diversify energy sources.”  

He added: “We have an ambitious program to maximize the utilization of new and renewable energy resources… and the state has created an enabling investment environment to support the private sector and attract further investments.”  

The agreement was signed by NREA Chairman Ehab Ismail and Yurtec representative Osamu Sakagami, in the presence of Japan’s Ambassador to Egypt Fumio Iwai, JICA Egypt Chief Representative Yu Ibisawa, and other senior officials. 

The Hurghada facility is expected to generate about 48,000 MW hours of electricity annually — 36,000 MWh from the solar plant and 12,000 MWh from the storage system. It is also projected to cut carbon dioxide emissions by around 26,400 tonnes per year. 

The agreement also covers the establishment of an eco-friendly information and training center adjacent to the plant, relying mainly on renewable energy sources and designed to enhance energy efficiency. 

The statement added that the center will be equipped with modern facilities, equipment, and meeting halls to promote the use of renewable energy and serve as an international training hub for professionals from both the public and private sectors. 

Esmat also praised the partnership and cooperation with JICA, adding that collaboration with the private sector is crucial for Egypt to achieve its renewable energy goals. 

The Hurghada project underscores Cairo’s push to accelerate renewable deployment and expand international partnerships, strengthening the country’s position as a regional clean-energy hub. 


Biban 2025: Monsha’at, Standard Chartered join forces to empower women in tech 

Biban 2025: Monsha’at, Standard Chartered join forces to empower women in tech 
Updated 22 sec ago

Biban 2025: Monsha’at, Standard Chartered join forces to empower women in tech 

Biban 2025: Monsha’at, Standard Chartered join forces to empower women in tech 

RIYADH: Women entrepreneurs made a strong showing at the “Startups Gateway” track of the Biban 2025 Forum, with female-founded startups accounting for about 18.5 percent of the more than 1,000 participating companies. 

The presence reflects the growing role of women in ’s entrepreneurial ecosystem, particularly across the technology, creative, and service sectors. 
 
Female-led startups were active in diverse fields, including communications and information technology, digital health, innovative financial services, culture, entertainment, and trade. Many showcased business models built on digital solutions, data analytics, and artificial intelligence applications, offering scalable products for local and regional markets. 

The Startups Gateway track at Biban provides practical pathways to support entrepreneurs, including live investor pitch sessions, exhibition booths, and networking zones with accelerators and enablers. It also facilitates one-on-one meetings to help startups access financing, partnerships, and distribution channels. 

These initiatives highlight the continued efforts of the Small and Medium Enterprises General Authority, known as Monsha’at, to empower women entrepreneurs through targeted programs that support business establishment, capacity building, and access to markets and investors. 

Held from Nov. 5 to 8 at the Riyadh Front Exhibition and Convention Center under the theme “A Global Destination for Opportunities,” Biban 2025 serves as a national platform and global opportunity hub. The forum aims to strengthen the Kingdom’s entrepreneurial ecosystem and accelerate SME growth in line with Vision 2030 goals to boost private sector participation and empower women. 

In a related development, Monsha’at signed a memorandum of understanding with Standard Chartered during the forum to collaborate on the “Women and Technology” Future Makers Program — a global acceleration initiative designed to empower ambitious female founders of technology-based startups. 

The agreement was signed by Saud Al-Sabhan, deputy governor for Entrepreneurship at Monsha’at, and Mazen Al-Bunyan, CEO and head of Banking at Standard Chartered .  

Now in its third iteration in the Kingdom, the Women in Tech program supports gender diversity and inclusion in the technology sector. Launched in May under Standard Chartered’s global Future Makers initiative, the program has supported 30 Saudi startups through mentorship, with nine securing a combined $145,000 in non-equity seed funding to scale their businesses. 

The partnership underscores Monsha’at’s strategy to build effective collaborations with international financial institutions, supporting women-led enterprises and reinforcing their role in driving economic growth and innovation.