Egypt’s Triple M Construction Company and Jordan’s Al Own Advanced Construction Company have established a new $5 million renewable energy firm called the Egyptian-Jordanian Company for Renewable Energy, Amwal Al Ghad reported.

The Egyptian-Jordanian Company for Renewable Energy is the first Arab alliance seeking to implement projects inside Egypt and Jordan, and prepare Arab cadres for competition with foreign companies. The new firm aims to provide all solutions and innovative systems for projects of solar and wind power, Managing Director Hatem El Roumy said.

The new firm plans to implement solar and wind stations with a capacity of 200 MW in 2018, whether in Egypt or Jordan, EL Roumy stated.

He also confirmed that there are negotiations with a number of solar investors in Benban, Aswan, to participate in the implementation of stations under the terms of the second phase of the feed-in tariff program (FiT), in addition to negotiations to participate in the implementation of wind stations Ras Ghareb.