Egypt will invest $110 billion in renewables

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Egypt will invest $110 billion in renewables

In partnership with national and international companies, Egypt announces it will invest $110 billion by 2027 in the production and distribution of electricity.

The country has thus be given a grant of 100 million dollars from the Global Environment Facility (GEF) for the construction of a solar power plant with a capacity of 100 MW at Kom Ombo, north of Aswan.

A total cost of about $500 million financed by the World Bank and the African Development Bank, the central sun meets the objective of the Egyptian government is to produce 20% of its energy from renewables in 2020.

Egypt is one of the leading African countries in terms of developing clean energy. It is currently developing a solar power project in partnership with the Desertec group with a power of 150 MW and with nearly 2000 sensors.

Investments of Egypt in the field of energy designed to support its demand for electricity driven by sustained global economic growth (+4.7% growth in 2009 and +5.8% in Q1 2010).