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$500 Million Worth of Solar Panels to be Built in Aswan

Egypt's ambitious goal to increase renewable energy to 22 percent by 2020 takes a positive step forward after a Norwegian company agrees to build 40 solar power plants in Aswan.

On Sunday, Egypt's Investment and International Cooperation Minister Sahar Nasr announced that Egypt aims to increase its renewable energy by 22 percent come 2020. The announcement was made during a meeting with Norway's Scatec Solar Morten Langsholdt, who agreed to invest $500 million in October to develop 40 solar power plants in Aswan's Benban village.

The proposed plan by Norway's Scatec aims to complete the 40 solar power plants capable of producing 1,800 megawatts by 2018. The $500 million earmarked for the project is expected to be received in October and is the latest instance of a renewable energy company to recognise the potential growth in Egypt's renewable energy market.

According to Nasr, Langsholdt, as well as a number of investors including the International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD) have expressed interest in investing $3 billion into Egypt's Solar Feed-in Tariff programme.


Todays Events
Hassan Ramzy & The F.A.M @ Cairo Jazz Club
Clubs
Date: 4/27/2017
Time: 10:00pm - 2:00am
Venue: Cairo Jazz Club
Aly B & Nosrat @ Zigzag
Clubs
Date: 4/27/2017
Time: 10:00pm - 5:00am
Venue: Zigzag
Cairo Fashion Festival - Season 8
Fashion
Date: 4/27/2017
Time: 10:00am - 10:30pm
Venue: Cairo Festival City
Macaroni Bechamel  Festival @ Safari Park
Festival
Date: 4/27/2017
Time: 3:00pm - 11:00pm
Venue: Safari Park
Hassan Abou Alam & Aroussi @ Diamond Boat
Clubs
Date: 4/27/2017
Time: 10:00pm - 4:00am
Venue: Diamond Boat
Funky Town ft. AK @ Wunder Kind
Clubs
Date: 4/27/2017
Time: 10:00pm - 3:00am
Venue: Wunder Kind
Funtasia ft. Alla Kushnir & Lyon @ 1925
Clubs
Date: 4/27/2017
Time: 10:00pm - 3:00am
Venue: Nineteen Twenty Five
Dance Grooves W/ Armen V @ The Tap Maadi
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Date: 4/27/2017
Time: 10:00pm - 2:00am
Venue: The Tap Maadi