Egypt’s grand plans to boost development of solar power infrastructure seem to be taking shape.
The Aswan Governorate recently announced plans to set up 39 solar power projects with a total cost of $3 billion, which will be set up as per the rules and regulations already stated by the government, and will be spread over an area of 8,843 acres in Banban, west of the Nile River.
The local government will offer the projects for development to prospective developers through usufructs, meaning the land for the projects will likely be owned by the government, but that developers will be allowed to set up their projects and derive profits.
Over the last year, several project developers from across the world have expressed significant interest in investing into Egypt’s rapidly growing renewable energy market. The 2020 target set by Egypt’s New & Renewable Energy Authority includes 12% from wind power and 8% from other technologies like solar power and hydro power.
Some of the recent announcements made by project developers for investments in Egypt include:
- Mainstream, Actis JV To Set Up 250 MW Wind Energy Project In Egypt
- Scatec Solar Signs Agreements For 250 MW Of Solar In Egypt
- Sterling And Wilson Will Build 300 MW Of Solar PV In Egypt
- ACWA Power Looks To Seal 2 GW Renewable Energy Deal With Egypt
- SkyPower IGD Signs 3 GW PV Deal In Egypt
- Terra Sola Plans $3.5 Billion Solar Power Investment In Egypt