With a EUR 2 billion investment and in collaboration with the World Bank.
During the Africa 2017 Forum taking place in Sharm El Sheikh, it was announced that the World Bank is currently collaborating with the Egyptian government to kick-start construction on the world's biggest solar farm in Egypt with a EUR two billion investment, Masrawy reports.
"Egypt is becoming more attractive to foreign investors as a result of the government's successful economic policies," says the World Bank's CEO Kristalina Georgieva, adding that Egypt's recently-acquired USD 1 billion World Bank loan signals great growth opportunities for Egyptians, according to Al Sharq Al Awsat.
The news comes in line with the government's plans to lessen the country's reliance on fuel and gas by supplying 20 percent of the country's energy needs from renewable sources by 2022.
Photo: Agua Caliente Solar Project.