Egypt initiates negotiations for a $600 million solar power station project

    Recently, the Egyptian Ministry of Electricity and Energy has initiated project negotiations with local and international investors to build several Solar System Panel stations with a total installed capacity of 550 MW.

    It is reported that the project under negotiation involves an amount of 9.5 billion psi (approximately US$600 million), and the cooperative operation and management model is the BOO (Build, Own and Operate) sub-operation model, that is, the construction, ownership and operation belong to different departments. The electricity produced will be sold by the Egyptian Power Transmission Company, which operates the Egyptian National Grid. The project will be implemented through a photovoltaic system, using solar panels to convert sunlight into electricity, which will then be integrated into the national grid for sale.

    It is understood that Egypt is rich in solar energy resources, and some areas in the south have more than 3,000 hours of sunshine throughout the year. The Benban Solar Complex, jointly operated by the Egyptian Renewable Energy Authority and a number of private companies, is located in the southern province of Aswan, Egypt. The electricity produced is sold by the Egyptian Power Transmission Company.

    After the Benban Solar Complex, which was built and put into operation at a cost of US$2 billion in 2019, was put into operation, the total amount of electricity generated by Egypt from solar energy reached 2.4 billion kWh in that year, compared with only 3 million kWh in 2018.