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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
Sebzz @ Cairo Jazz Club
Clubs
Date: 7/28/2017
Time: 10:00pm - 3:00am
Venue: Cairo Jazz Club
Arabish Band @ El Sawy Culturewheel
Concerts
Date: 7/28/2017
Time: 7:30pm - 9:30pm
Venue: El Sawy Culturewheel
Misty @ The Tap East
Clubs
Date: 7/28/2017
Time: 10:00pm - 3:00am
Venue: The Tap East
Electric Picnic @ The Tap Maadi
Clubs
Date: 7/28/2017
Time: 10:00pm - 2:30am
Venue: The Tap Maadi
The Ultimate Road Trip By Gazef @ Egypt
Travel
Date: 7/28/2017
Time: 12:00pm - 12:0am
Venue: Egypt
Brunch W/ Danny Malak @ The Tap East
Dining
Date: 7/28/2017
Time: 1:00pm - 6:00pm
Venue: The Tap East
Pre-Season Warmup W/ Ouzo & Mano @ Zigzag
Clubs
Date: 7/28/2017
Time: 10:00pm - 6:00am
Venue: Zigzag
Egypt's Memorial Day @ El Sawy
Seminars
Date: 7/28/2017
Time: 5:00pm - 8:00pm
Venue: El Sawy Culturewheel