Egypt gets investment offer for big solar project in East Nile area - report
Solar park in Egypt's Aswan province. Photo by: EBRD (www.ebrd.com).
June 8 (Renewables Now) - Egypt's New and Renewable Energy Authority (NREA) is said to have received the largest investment offer funded by a European investor for a large solar project in the East Nile region, newspaper Al-Dostour said on Tuesday.
All studies related to the acceptance of the project as part of the National Renewable Energy Strategy are nearing completion, the newspaper said, citing a source from the Ministry of Electricity and Renewable Energy.
The source noted that there are many offers from Arab and European investors for renewable energy projects across Egypt -- for solar plants in the south of the country and for wind parks mainly in the Gulf of Suez.
According to NREA, wind and solar plants can be built on a total area of 7,673 sq km (2,963 sq mi) across the North African country, offering a potential for the deployment of about 90 GW of green capacity.
Anna is a DACH expert when it comes to covering business news and spotting trends. She has also built a deep understanding of Middle Eastern markets and has helped expand Renewables Now's reach into this hot region.