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$500 Million Worth of Solar Panels to be Built in Aswan

Egypt's ambitious goal to increase renewable energy to 22 percent by 2020 takes a positive step forward after a Norwegian company agrees to build 40 solar power plants in Aswan.

On Sunday, Egypt's Investment and International Cooperation Minister Sahar Nasr announced that Egypt aims to increase its renewable energy by 22 percent come 2020. The announcement was made during a meeting with Norway's Scatec Solar Morten Langsholdt, who agreed to invest $500 million in October to develop 40 solar power plants in Aswan's Benban village.

The proposed plan by Norway's Scatec aims to complete the 40 solar power plants capable of producing 1,800 megawatts by 2018. The $500 million earmarked for the project is expected to be received in October and is the latest instance of a renewable energy company to recognise the potential growth in Egypt's renewable energy market.

According to Nasr, Langsholdt, as well as a number of investors including the International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD) have expressed interest in investing $3 billion into Egypt's Solar Feed-in Tariff programme.

Todays Events
Mohasseb @ Cairo Jazz Club
Date: 12/15/2017
Time: 10:00pm - 3:00am
Venue: Cairo Jazz Club
Brunch @ Solana
Date: 12/15/2017
Time: 1:00pm - 5:00pm
Venue: Conrad Cairo
Christmas Cairo Symphony Orchestra
Date: 12/15/2017
Time: 8:00pm - 11:00pm
Venue: Cairo Opera House
Breathe Out @ Dijon Bistro
Date: 12/15/2017
Time: 9:00pm - 3:00am
Venue: Dijon Bistro
Basheer @ Underground Cairo
Date: 12/15/2017
Time: 10:00pm - 1:00am
Venue: Underground Cairo
Sweat The HIV Stigma
Date: 12/15/2017
Time: 9:00am - 2:00pm
Venue: Platinum Club
Fundamentals Of Acting @ Bardo Clubhouse
Date: 12/15/2017
Time: 4:00pm - 8:00pm
Venue: Bardo Clubhouse
The Art of Wedding Portraiture @ AUC
Date: 12/15/2017
Time: 10:00am - 5:00pm
Venue: American University In Cairo