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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
Bigger Better Louder ft. A.K @ Cairo Jazz Club
Clubs
Date: 5/24/2017
Time: 10:00pm - 3:00am
Venue: Cairo Jazz Club
Sound Of Egypt Orchestra @ Opera
Concerts
Date: 5/24/2017
Time: 8:00pm - 11:00pm
Venue: Cairo Opera House
Misty @ The Tap East
Clubs
Date: 5/24/2017
Time: 10:00pm - 3:00am
Venue: The Tap East
Screening: Blue Velvet @ Magnolia
Film
Date: 5/24/2017
Time: 7:00pm - 9:30pm
Venue: Magnolia Cafe
Mazaher Ensemble @ Egyptian Center
Concerts
Date: 5/24/2017
Time: 8:00pm - 10:00pm
Venue: Egyptian Center for Culture & Art
New Art Within Old Walls @ Sultan Qaitbay
Exhibitions
Date: 5/24/2017
Time: 7:00pm - 9:00pm
Venue: Sultan Qaitbay Mosque
Flying Carpets Workshop @ Darb 1718
Workshop
Date: 5/24/2017
Time: 3:00pm - 6:00pm
Venue: Darb 1718
A-Squared @ The Tap Maadi
Clubs
Date: 5/24/2017
Time: 10:00pm - 2:30am
Venue: The Tap Maadi