CAIRO - 5 April 2021: Electricity Minister Mohamed Shaker has witnessed the signing of an agreement to establish a photovoltaic power station in Zaafarana city in Suez at a cost of 38 million euros.
The deal was signed by the New and Renewable Energy Authority (NREA) and the Belectric–CCC consortium, the Electricity and Renewable Energy Ministry said in a press release on Monday.
The 50-megawatt-capacity project is funded by the German KfW bank via a soft loan, the ministry added.
The project is planned to be finalized in mid-2022 and will produce 90,000 megawatts a year.
The first-of-its-kind project in Zafarana city is expected to provide 50 permanent jobs throughout its 25-year lifespan, the ministry noted.