71896
Egyptian Renewable Energy Projects Get Boost
Egyptian Renewable Energy Projects Get Boost

Egyptian Renewable Energy Projects Get Boost

Egyptian Renewable Energy Projects Get Boost

The Asian Infrastructure Investment Bank has announced as much as $210 million in debt financing in order to "tap" the renewable energy potential of Egypt. In a statement on Tuesday, the Beijing-headquartered AIIB said the project would comprise 11 solar power plants with an "aggregate" capacity of 490 megawatts and help the country meet its pledges under the Paris Climate Agreement, CNBC reported. "Investing in clean, renewable energy is a big part of our strategy to promote a sustainable and low-carbon future for Asia," D.J. Pandian, the AIIB's vice president and chief investment officer, said. "We are supporting this project because it contributes to Egypt's renewable energy capacity, and it will help position the country as a regional energy hub, which will have economic benefits for the entire region," Pandian added. In terms of its environmental benefits, AIIB said the solar plants would help avoid over half a million tons of carbon dioxide annually.

 

Short URL : https://goo.gl/q2ardq
  1. https://goo.gl/ZQFQ7D
  • https://goo.gl/gD93om
  • https://goo.gl/536waB
  • https://goo.gl/sctS4F
  • https://goo.gl/pDm1tA

You can also read ...

Asia Buyers of Iran Oil Hopeful of US Waivers
Asian buyers of Iranian oil are gaining confidence they will...
Poland Signs 20-Year LNG Deal With US Co.
Poland’s main gas firm PGNiG has signed a 20-year agreement...
1 Million Smart Meters for Energy-Intensive Consumers in Iran
One million energy-intensive households and commercial units...
Iran: 7 Combined-Cycle Power Plants Ready for Launch in June
Work is in progress to develop new phases in combined-cycle...
Iran Oil Co. Chief Calls for Buying Stake in Foreign Refineries
Talks are underway to buy shares in refineries of other...
Iran's SIPIEM Inviting Foreign SMEs in Energy Sector
The Society of Iranian Petroleum Industry Equipment...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus