Egypt Prepares for a Renewable Energy Revolution

Mohamed Shaker, the minister of electricity and renewable energy, announced in mid-October that the country is to inaugurate the 1.4-GW Benban Solar Park by November. Located in the Aswan Governorate in Upper Egypt, the solar park has attracted some $2bn in investment, with around 30 companies already establishing energy projects and commercial operations at the site. An important aspect of Benban’s success has been the government’s commitment to purchase electricity produced at the site for the next 25 years, which has helped to incentivize foreign companies. On top of attracting international investment, the project has involved more than 100 Egyptian companies, creating 640 permanent jobs and 18,000 temporary ones. The announcement of the official opening at Benban comes at a time when other renewable projects are being expanded.

 

Source : https://bit.ly/2JN88Se


This entry was posted in : Renewable Energy Directive

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