Egypt is making significant strides towards a cleaner and more sustainable future with plans to invest $20 million in solar power stations.
With the financing from the European Union, Egypt is set to embark on the construction of two solar power stations that will play a crucial role in harnessing the country’s renewable energy potential.
The first project, valued at 550 million Egyptian pounds, will be implemented at the Assiut Oil Refining Company and is expected to have a capacity of 10 megawatts.
This project is projected to be completed within a timeframe of 11 months, showcasing Egypt’s commitment to rapidly advancing its clean energy infrastructure.
The second project, with an investment cost of 500 million Egyptian pounds, will be carried out at the Egyptian General Petroleum Corporation (EGPC) and is set to have a capacity of 6.5 megawatts.
Both projects will be funded through the generous support of the EU, further emphasizing the collaborative efforts towards promoting sustainable energy solutions.
Egypt’s abundant solar irradiation and vast desert lands provide the perfect setting for the development of renewable energy sources. By leveraging these natural resources, Egypt aims to increase its renewable energy capacity and reduce its reliance on traditional fossil fuels.
With a goal of producing 42% of its power generation from renewables by 2030, Egypt is taking proactive steps towards transitioning to a greener energy mix. By accelerating its renewable energy initiatives, Egypt aims to not only meet its domestic energy needs but also establish itself as a key player in the global renewable energy market.
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