Italian Eni has renewed negotiations with the Egyptian Ministry of Electricity and Renewable Energy over establishing 1000 megawatt (MW) solar power plants with investment costs reaching $1 billion, sources at the ministry told Al Borsa Newspaper.

The company plans to start establishing a 50 MW solar plant as an independent power producer (IPP) through which it targets selling electricity directly to consumers. Moreover, a 250 MW solar plant has been established according to the Build, Own, Operate system (B.O.O).

Eni requested license from the Egyptian Electric Utility and Consumer Protection Regulatory Agency (EgyptERA) in order to generate electricity from solar resources. The request is set to be discussed in the next meeting of the authority’s board of directors.