- Press Releases
May 9 (Renewables Now) - Construction work on a 50-MW solar project developed by a Belectric-CCC consortium in eastern Egypt is nearing completion, with commissioning scheduled for the third quarter of this year.
The project is worth a total investment of about EGP 700 million (USD 37.9m/EUR 35.9m), Egypt's New and Renewable Energy Authority (NREA) said in its quarterly report as quoted by government-backed newspaper Al-Ahram.
The solar facility is being built on a plot of about 1 sq km (247.1 acres) in the Zaafarana area of the Suez Governorate. Once operational, the power plant is expected to generate 90,000 MWh of green electricity per year, saving about 50,000 tonnes of carbon emissions.
NREA signed a contract with the Belectric-CCC consortium in April 2021 to set up and operate a solar plant for a period of five years. The project financing is provided by German development bank KfW.
In addition to the Zaafarana solar park, work is progressing also on a 250-MW wind project in the Gulf of Suez which is planned to come into operation in the second half of 2023, NREA said.
(EGP 1.0 = USD 0.054/EUR 0.051)