Investments in renewables in Egypt reach LE6 bn: Official

CAIRO – 18 September 2020: Total investments tapped in renewable energy projects that were added this year reached nearly L.E. 6 billion including governmental and private projects, stated Mohamed Al-Khayyat, head of the New and Renewable Energy Authority.

The authority aims to expand projects generating electricity from renewables including the sun and the wind, to meet citizens’ future needs in accordance with the government’s strategy.

The total capacity generated from renewables on the national grid currently amounts to 5,800 mega/watt.

Khayyat explained that solar projects are divided into two types, the first is concerned with authority’s projects, and the second is concerned with the feed-in-tariff program.

For the projects implemented by the authority, there is a solar plant of a capacity of 20 mega/watt in Hurghada in cooperation with Japan, and another one in Kom Ombo with the same capacity. In addition to this, there are projects with a feed-in-tariff system with a capacity of 1,465 mega/watt in Benban area in Aswan, which is the largest pool of solar cells in the world.

Egypt aims to raise the share of renewable energy in its energy mix to reach 45 percent by the year 2035.