The Egyptian Minister of International Cooperation, Sahar Nasr, stated that during August, a consortium of the World Bank, the African Development Bank, in addition to German and French institutions will finalize the feasibility study of developing a 1000 MW solar plant and a facility for manufacturing solar panels, both projects worth a combined $3.3b, on loan from China, reported Al Mal News.
The power plant will be divided into two separate 500 MW facilities and will be developed by local capacities in collaboration with China’s TBEA.
The project comes as a part of a Memorandum of Understanding (MoU) between Egypt and China which includes sharing expertise in power plant development to enable Egypt’s photovoltaic (PV) growth.
