Government to implement $4B hydropower projects with private sector
Updated 8/1/2024 7:46:00 AM
Arab Finance: The Ministry of Electricity is planning to implement hydropower projects with investments of $4 billion, in cooperation with the private sector, government officials told Al Arabiya Business.
The move is part of the government's plan to diversify power generation resources, the sources noted.
The ministry is looking forward to establishing a water pumping and storage station in Ataqa, with a capacity of 2,400 megawatts (MWs).
Moreover, the ministry intends to hold discussions with major international hydropower firms as well as lenders to implement the projects, according to the officials.
It is worth noting that Egypt’s hydropower accounts for 5% of the country’s total renewable energy capacity on the national grid, which represents 20%, Al Arabiya Business reported.
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