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Egypt's NREA studying solar and wind investment proposals worth $381mln - Chairman
التاريخ : 17 / 4 / 2020
Egypt's New and Renewable Energy Authority (NREA) is studying investment proposals worth 6 billion Egyptian pounds ($381 million) to develop solar and wind projects in fiscal 2020-2021, Chairman Mohamed Al Khayat told Zawya Projects.

He said NREA is planning to tender a 50-megawatt (MW) solar power plant in Kom Ombo in the swan Governorate in Upper Egypt but didn't elaborate. He also disclosed that the Authority has signed a memorandum of understanding with local firm Ganope and Helwa Observatory to carry out a techno-economic feasibility study for establishing renewable energy projects in the Gulf of Suez, Red Sea and New Valley.

in a press statement on Wednesday, NREA had announced that it is studying proposals for renewable energy projects totaling 6.34 gigawatts (GW) from public and private sector companies.

Al Khayat told Zawya Projects that in the past two years, private sector investments into Egypt's renewable energy sector totaled more than $3 billion with Benban Solar Park alone accounting for $2 billion, with 6,000 MW installed in renewable power generation capacity to date.

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