Egyptian Minister of Investment and International Cooperation Sahar Nasr met with Italgen CEO Giuseppe de Beni to discuss the company’s Energy investment in Egypt. The company considers investing an amount of $350 to establish a power wind station in Zaafarana with a capacity of 320MW, Alborsa News reported.
De Beni expressed the company’s interest to boost their investment in Egypt by supporting renewable energy projects.
From Her Side, Nasr welcomed Italgen’ s interest in renewable energy projects as the government is seeking to generate electricity from renewable resources in efforts to ensure sustainability. The Minister further praised Egyptian-Italian economic relations beside the volume of Italian investments in Egypt and its role in supporting a number of vital sectors.
Egypt has set a target to increase the share of renewable energy to 22% of the country’s energy consumption by 2020.