33923
Egypt Offers Renewables Projects Worth $6b
Energy

Egypt Offers Renewables Projects Worth $6b

Egypt is offering an investment opportunity of at least $6 billion to 2018 in the renewable energy sector, including wind and solar, under the feed-in-tariff scheme, said a major investment bank ahead of the World Future Energy Summit to be held from January 18 to 21 at Abu Dhabi National Exhibition Center. Egypt will need to add about 8 gigawatts, foreseen to be split between 5.5 GW of wind power and 2.5 GW of solar power, added EFG Hermes, adding that the country’s New and Renewable Energy Authority aims to generate 20% of its power from renewables by 2020, Trade Arabia reported. Renewable energy’s low cost of production makes renewables the best power source for Egypt’s future.  "Whether developed by governments, the private sector, or NGOs, renewable energy can transform the key development pillars of power, health, infrastructure, education and people," said Bakr Abdel-Wahab, managing director of Infrastructure Private Equity at EFG Hermes. EFG Hermes is presently considering establishing a $200 million renewable energy fund to spur wind and solar projects in Egypt and the wider region.

 

Short URL : http://goo.gl/zpIddF
  1. http://goo.gl/WuJGIy
  • http://goo.gl/4cy0XO
  • http://goo.gl/SPwa5R
  • http://goo.gl/ykXwfl
  • http://goo.gl/MoCezu

You can also read ...

Russia Says US Sanctions on Iran "Unproductive"
United States' sanctions on Iran's oil industry are...
China to Cut Solar, Wind Subsidies
China will speed up efforts to ensure its wind and solar power...
Oil Coalition Seeks Consensus Ahead of Algiers Summit
With a critical meeting in Algiers fast approaching, a...
Abu Dhabi Planning Biggest Oil  IPO in Decade
Abu Dhabi is pushing ahead with an initial public offering for...
Crude Prises Higher as Supply Concerns Rise
Oil prices rose on Monday as investors worried about the...
Abadan  Refinery  Second Phase  on Track
The second development phase of Abadan Oil Refinery in...
New Power Capacity for Sistan-Baluchestan
Operations to build new combined-cycle power plants in...
ICOFC to Develop  Eight Gas Fields
Iranian Central Oil Fields Company plans to develop eight gas...

Trending

Googleplus