Spain’s Eosol Energy will open a branch in Egypt as local law firm Maher Milad Iskander & Company has completed the incorporation process, reported PRWeb Online News.

Eosol Energy is Spanish renewable energy developer that is engaged in the construction and operation of wind farms, solar plants and biomass energy projects. The company is operating in France, America and Spain, and it will adding Egypt to their portfolio in order to take advantage of Egypt’s subsidies and lucrative energy purchasing Feed-in Tariff (FiT) programs.

Egypt’s push for renewable projects came as part of the country’s strategy to reinforce the economy by creating a favorable environment.  The government’s strategy included the EGP devaluation and the announcement of a new investment law that will put in place further incentives for both national and international entrepreneurs looking to make the most of the abundance of opportunities which the country has to offer.