Egypt to Offer Investors 3 cents per Kilowatt of Renewable Energy

Egypt to Offer Investors 3 cents per Kilowatt of Renewable Energy

Egypt’s Ministry of Electricity is currently finalizing deals with the companies that signed MoUs during the economic conference last March to purchase 1 KW of power generated via alternative energy sources for 3 cents, an official at the ministry of electricity told Al Mal.  Deals are expected to be finalized once they are approved from the cabinet. An example of the deals currently being finalized is Orascom’s solar power project that is expected to produce 50 MW and cost around $100mn.

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