An electricity plant of 26 megawatts capacity based on solar energy in Kom Ombo, Aswan, is included in the investments, Khaiat added Monday.
The total number of stations to be established is 32 stations with a capacity of 1465 MW.
The price of selling electricity for high voltage is up to $9 globally, compared to $6 in Cairo.
Nasr noted that the solar energy project in the Upper Egyptian city reflects the comprehensive strategic partnership between the two sides.
"All energy is ultimately derived for the sun and harvesting it directly through solar power seems to be the best way to transition to renewable energy."
Final contracts for Hamrawein coal-fired power plant expected to be signed in September during President Abdel Fatah al-Sisi’s visit to Beijing, China.
International financial and energy analysts are praising Benban Power Plant.
Mohamed Shaker announced July 3 the establishment of a major power station in Moussa Water Spring (Ayoun Moussa) in Sinai.
Minister of Electricity Mohamed Shaker announced on Tuesday that the ongoing Benban Solar Project will be the biggest in the world.
Minister of Electricity Mohamed Shaker attended today the launch of Benban solar plant’s operation. The first of 32 stations in the world’s largest solar power station, Infinity station is the first station in the Benban solar park.
In less than 24 hours, the world will witness the inauguration of the first of 32 stations in the world’s largest solar power station in Egypt.
A wrap-up of the most prominent business news of the day.
Benban solar park is set to be the largest solar plant in the world, edging Egypt forward on its path to becoming the region’s energy hub.
The second construction phase of Aswan’s mega solar power park project will launch in November.
Solar plants at Benban city of Aswan might be seen operating in 2018 as international financial institutions agreed to finance developers of FiT second round.
The three plants will reduce carbon dioxide emissions by 156,000 tons per year, secure power supplies to 80,000 households.