Egypt's NREA studying solar and wind investment proposals worth $381mln - Chairman

New solar PV project planned for Kom Ombo

  
Image used for illustrative purpose. Workers set up the photovoltaic panels at the Benban plant in Aswan, Egypt, November 17, 2019.

Image used for illustrative purpose. Workers set up the photovoltaic panels at the Benban plant in Aswan, Egypt, November 17, 2019.

REUTERS/Amr Abdallah Dalsh

Egypt's New and Renewable Energy Authority (NREA) is studying investment proposals worth 6 billion Egyptian pounds ($381 million) to develop solar and wind projects in fiscal 2020-2021, Chairman Mohamed Al Khayat told Zawya Projects.

He said NREA is planning to tender a 50-megawatt (MW) solar power plant in Kom Ombo in the Aswan Governorate in Upper Egypt but didn't elaborate. He also disclosed that the Authority has signed a memorandum of understanding with local firm Ganope and Helwan Observatory to carry out a techno-economic feasibility study for establishing renewable energy projects in the Gulf of Suez, Red Sea and New Valley.

Commenting on ongoing projects, he said Spanish contractor TSK has started trial production at NREA's 26 MW solar PV power plant in Kom Ombo.

Last year, the 1,465 MW Benban Solar Park and the 250 MW Gulf of Suez wind farm started operations, he added.

In a press statement on Wednesday, NREA had announced that it is studying proposals for renewable energy projects totaling 6.34 gigawatts (GW) from public and private sector companies.

Al Khayat told Zawya Projects that in the past two years, private sector investments into Egypt's renewable energy sector totaled more than $3 billion with Benban Solar Park alone accounting for $2 billion, with 6,000 MW installed in renewable power generation capacity to date.

(Reporting by Marwa Abo Almajd; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

© Thomson Reuters Projects News 2020