NREA
This budget will be divided, with approximately LE 4 billion allocated for current expenses and around LE 3.7 billion designated for investments in renewable energy projects.
The project, envisioned to be one of the largest wind farms in Egypt, will be carried out at an investment cost of €228 million, Shaker noted during the inking ceremony.
The total amount of electricity generated from renewable energy in Egypt has reached 6,000 megawatt, as the government seeks to increase the renewables’ share in the energy mix.
The New and Renewable Energy Authority (NREA) will be restructured into two entities, chairman Mohamed El-Khayat said Tuesday.
A number of 32 solar developers have expressed interest in taking part in the FiT second round, NREA chairman says.
The solar plant is planned to be located in the Gulf of Suez.
