Al-Jeel Al-Hader Co., a Saudi Arabian firm, has struck a $350m deal with Egypt to build power plants to generate electricity using alternative energy sources, reported Al Mal. Mohamed Abdel Raheem, Vice Chairman of Al-Jeel Al-Hader said that the 3 Egypt-based companies, with capital of $15m each, have been created for the implementation of the project. One of the companies will build a wind energy farm with a 50 MW capacity; while each of the other two companies will build a solar power plant with a capacity of 50 MW. The Saudi firm is also working on launching two solar projects in neighboring Jordan.
Source: Al Mal