ECCE Mulls EGP 2b Investment in Solar Energy

ECCE Mulls EGP 2b Investment in Solar Energy

Managing Director of  the Egyptian Company for Clean Electricity (ECCE), Emad Ghaly, informed  Al-Borsa News that the company is steering investments worth EGP 2b towards the development of solar power stations and a factory to assemble solar cells.

In a joint venture with Germany and France, ECCE will start development of a solar station in the Toshka lakes area to produce 70 MW of energy. The project will cost an estimated $100m, within the next six months, which will be funded by the European Investment Bank.

The company is also planning on using $30m to build a second solar power station  in Beni Suef to produce 20 MW of energy. This is in addition to a facility to manufacture and assemble solar cells at a cost of EGP 20m.  The local production of solar cells is expected to reduce the cost of 1kW of clean electricity to EGP 0.17.

Sarah Samir 3289 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.


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