The Egyptian Ministry of Electricity and the New & Renewable Energy Authority are studying an offer proposed by the German energy company Siemens to produce 10,000 MW of renewable energy in Egypt by December 2016, to be funded by Siemens, informed Al-Borsa News.
The ministry gives priority to Siemens’ project over others due to the use of the latest technology, competitive prices, and favorable time frame.
A ministry’s official explained that the proposal includes the construction of several wind farms of 10,000 MW of generated power and the construction of a factory that would manufacture blades and turbines with the possibility of exporting them.
A committee of experts from the Ministry of Electricity and the New & Renewable Energy Authority has been formed to assess the prospect.
The Ministry of Electricity recognizes that the German firm has had previous experience with projects in Egypt, including its last projects in Burullus, New Capital, and Beni Suef, generating power of 14,400 MW for a total investment worth $6.6b.