Japan's JICA provides financing for 20 MW solar plant in Egypt
The Japanese International Cooperation Agency (JICA) has approved a US$60 million financing package for the development of a solar power plant in Egypt.
The project with a projected capacity of 20 MW will be constructed in the city of Hurghada, Red Sea Governorate.
According to sources Mohamed El Khayat, the chairperson of the New and Renewable Energy Authority (NREA), said that he tender will be offered for Arab and international companies to launch the project mid next year. The executive regulations will be completed in February.
JICA has completed the project’s feasibility study and provided a $1.5m grant to place equipment in the plant’s location with the aim of measuring the solar emissions to be sure about the project’s feasibility during different times of the year and calculate the expected production at the implementation.
The Ministry seeks to produce 20% of electricity through new and renewable sources by 2020 through competitive tenders and direct contracting systems in addition to the feed-in tariff projects of 4200 mw, with investments worth US$7.5 billion.
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