Abengoa’s solar business chief executive Armando Zuluaga signed a memorandum of understanding (MoU) with the New and Renewable Energy Authority (NREA) and the Egyptian Electricity Transmission Company to define the terms of cooperation for renewable energy in Egypt. The signing took place during ceremony in Madrid, witnessed by Egypt Minister of Electricity and Renewable Energy Mohamed Shaker El-Markabi.
The MoU aims at initiating a commercial and technical relationship, enhancing local value creation relating to solar energy activities. In addition to allowing cooperation on the development of solar thermal electricity and PV projects in Egypt.
Abengoa has carried out various studies to assess the potential of solar technologies in the country to contribute to the security of supply of the Egyptian electricity system and the economic development.