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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
Do3souqa / Maii & Zeid @ Cairo Jazz Club
Date: 8/22/2017
Time: 10:00pm - 3:00am
Venue: Cairo Jazz Club
Game Night @ The Tap East
Date: 8/22/2017
Time: 10:00pm - 3:00am
Venue: The Tap East
Basementality ft. Kidmims @ Basement
Date: 8/22/2017
Time: 9:30pm - 2:00am
Venue: Basement - Urban Pub
DJ Nader & Dalida Anastasia @ 1925
Date: 8/22/2017
Time: 10:00pm - 2:30am
Venue: Nineteen Twenty Five
Tango Night @ Swiss Club
Date: 8/22/2017
Time: 8:00pm - 1:00am
Venue: Swiss Club
Filmmaking By Salma El Kashef @ Photopia
Date: 8/22/2017
Time: 5:00pm - 9:00pm
Venue: Photopia Studio
Screening: Hedi @ Zawya
Date: 8/22/2017
Time: 12:00pm - 12:0am
Venue: Zawya
Game Night @ The Tap Maadi
Date: 8/22/2017
Time: 10:00pm - 2:00am
Venue: The Tap Maadi