CAIRO, Dec. 14 (Xinhua) — Egyptian Prime Minister Mostafa Madbouly on Saturday inaugurated a 500-million-U.S. {dollars} photo voltaic plant within the southern metropolis of Aswan as a part of Egypt’s efforts to spice up renewable power manufacturing.
“It is a pivotal step in promoting renewable energy, and is a testament to our deep commitment to a future vision that aims to achieve environmental and economic sustainability,” Madbouly mentioned within the inauguration ceremony, in accordance with a cupboard assertion.
The Abydos Solar PV Plant, with a capability of 500 megawatts, was developed by Dubai-based power firm AMEA Power. The challenge’s normal contractor is China Energy Engineering Corporation (Energy China), in accordance with the assertion.
Hussain Al Nowais, chairman of AMEA Power, mentioned the plant’s half-billion-U.S. dollar investments are funded by the International Finance Corporation, Dutch Entrepreneurial Development Bank, and Japan International Cooperation Agency.
The assertion mentioned the challenge signifies Egypt’s imaginative and prescient for offering unprecedented alternatives to the overseas, Arab, and home personal sectors to put money into its land.
The plant is predicted to generate electrical energy for 256,000 homes and can contribute to lowering carbon dioxide emissions by almost 760 tons per 12 months, mentioned the assertion.
Additionally, the Egyptian authorities on Saturday signed an influence buy and land settlement with AMEA Power for a 500-megawatt wind energy challenge in Ras Shukheir within the Gulf of Suez, with investments estimated at 600 million U.S. {dollars}.