Egypt Receives Proposals to Generate Electricity from Renewable Energy
Egypt’s Ministry of Electricity has received 10 new proposals from companies with Saudi, Emirati, British, German, and Chinese nationalities. These proposals are part of a project that aims to generate electricity from renewable sources of energy like sun and wind.
Diverse Renewable Energy Projects
These companies expressed interest in implementing various renewable energy projects with a total investment of around $3 billion. A committee is being formed to review these proposals.
Expanding Renewable Energy Uses
The offers include plans for land allocation to build power stations to generate electricity from renewable sources of energy and selling the electricity to consumers. There are also proposals for using this energy in water desalination projects and green hydrogen production.
Success in Benban and Future Expansions
Two companies among the bidders have previously implemented solar energy projects in the Benban complex in Aswan. They are now looking to expand their projects through alliances with other Arab entity, with investments exceeding $300 million.
Egypt’s Long-Term Clean Energy Strategy
This growing interest from Arab and global companies is in light of Egypt’s long-term plans to increase clean energy production. In addition, the government is encouraging private sector involvement and enacting supportive legislations and incentives.
Moreover, the Egyptian government targets to diversify its electric grid’s energy mix.
Cabinet’s Approval for Land Allocation
Recently, the Egyptian Cabinet approved the allocation of land for the Egyptian Renewable Energy Authority. This includes about 10,000 square kilometers in the New Valley Governorate and 46.7 square kilometers near Benban in Aswan for renewable energy stations.
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