Investments in Egypt's renewable energy sector reach $2B

CAIRO - 21 December 2021: Investments in the renewable energy sector amounted to $2 billion to produce 2,400 megawatts at a time when the global economy is suffering from a slowdown, according to head of the Renewable Energy Authority, Mohamed El-Khayat.

El-Khayat said that the activation of Law 203 of 2014 to regulate the work of renewable energy helped achieve real achievements in Egypt, and the market became able to attract investments in the renewable energy sector.

He added, during the activities of the Fifth Al-Ahram Energy Conference, that during the next five years, there will be a plan to develop integrated solutions, which will contribute to reducing costs, eliminating pollution and supporting the state's tendency to produce electric cars.

For her part, Hend Farrouj, Project Manager of Solar and Environmental Cell Systems and Sustainable Urban Development at the National Center for Housing and Building Research, said that the construction of 126 stations in 15 governorates with a total of 11 megawatts has already been completed, adding that the project focuses on deepening the local component, training engineers and establishing a database .