Egypt eyes $4B foreign investments in renewables sector in 2025
Updated 11/6/2024 9:43:00 AM
Arab Finance: The Egyptian government is planning to attract $4 billion in foreign investments into the country’s renewable energy sector in 2025, Al Arabiya Business reported, citing government sources.
The proposed plan will exclusively depend on the private sector as it differs from ongoing projects that have been contracted or are in progress, including those being executed by Saudi Arabia’s ACWA Power, UAE’s AMEA Power, Norway’s Scatec, and Orascom Construction’s consortium, the sources said.
They added that the plan has been presented to international firms from Japan, France, China, Germany, Italy, Spain, and the US, with meetings set to take place with company representatives before year-end.
On September 17th, the Minister of Electricity and Renewable Energy Mahmoud Esmat revealed that Egypt's renewable energy capacity, spanning wind, solar, and hydropower, is expected to increase to 8,097 megawatts by next summer.
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