Egypt’s solar rush continues

• 8 years ago (2015-06-15)

Middle East 312 Renewables 752

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The farm itself will be built on land designated by the Egyptian government’s New and Renewable Energy Authority (NREA). Power generated by the project will be sold through a 25-year power purchase agreement (PPA) to the Egyptian Electricity Transmission Company.

To develop, finance, build and operate the new solar farm in Aswan, 800 km south of Cairo, Elsewedy has incorporated a new subsidiary called the Egyptian Company for Solar Energy Development (ECSED) with a $75 million investment.

The project will develop Elsewedy’s renewable energy capacity in Egypt to 650 MW.

In recent weeks, the Egyptian government has signed off some 270 MW of new solar power plants as part of its target to have 2.3 GW of solar capacity installed by 2018.