Schneider Electric’s Deputy Chair of Governmental Affairs and Energy, Sherif Abd El Fattah, stated that the company executed solar energy projects with a capacity of 2000KW from facilities atop buildings throughout Egypt, reported Al Mal News.

The company plans to expand its renewable energy business as it is aiming to compete over 4 solar energy projects with a capacity estimated at 176MW. The company will provide AC adapters, charger controller and batteries for the four projects.

These ventures include Kum Ombo power plant in Aswan with a capacity of 100MW, Hurghada solar project with 20MW, Gouna power plant with 50MW, and Marsa Alam power plant with 6MW.

Abd El Fattah said that the new Feed-in Tariff (FiT), announced by the government to be $0.084 per kw, is very competitive and will encourage new investors to enter the renewable energy market in Egypt.