Cairo – Mubasher: Egypt’s New and Renewable Energy Authority (NREA) signed an agreement with Belectric–CCC consortium to set up, operate, and maintain a 50-megawatt photovoltaic power station in Suez Governorate’s Zaafarana area.
The contract value amounts to approximately EUR 38 million, which will be funded by KfW Development Bank’s soft loan, according to a statement on Monday.
Installation works are expected to be completed in mid-2022. The project will create about 500 temporary job opportunities, besides 50 permanent vacancies for 25 years.
Egypt aims to have 20% of its produced energy from renewable sources by 2022 and to further raise this share to 42% by 2035.
