The Egyptian government has inaugurated a 500 MW Abydos solar PV plant estimated at a whooping $500 million .
This was made disclosed in a statement by the Egyptian Prime Minister, Mostafa Madbouly, in Aswan, according to a report by Renewable Energy Chronicles.
The Prime Minister said the plant was developed by Dubai-based AMEA power, with China Energy Engineering Corporation serving as the general contractor.
Mostafa, who spoke during the launch, also mentioned that the project showcases the country’s dedication to creating a sustainable future by leveraging clean energy as well as Egypt’s dedication to environmental and economic sustainability.
“This landmark project, financed by the International Finance Corporation, the Dutch Entrepreneurial Development Bank, and the Japan international cooperation agency, exemplifies successful international collaboration in renewable energy development” he said.
In addition, he noted that the plant, expected to generate electricity for 256,000 homes, will significantly contribute to reducing Egypt’s carbon footprint by cutting carbon dioxide emissions by nearly 760 tons annually.
Moreover, the development reflects Egypt’s strategic commitment to providing attractive investment opportunities for foreign, Arab, and domestic private sectors.
Power project worth $600 million
In a similar development, the Egyptian government also signed agreements with AMEA Power for a new 500-MW wind power project in Ras Shukheir, located in the Gulf of Suez.
This $600 million investment will help drive the country’s aim to diversify its renewable energy mix, creating a greener and more sustainable energy landscape.
Hussain Al Nowais, the chairman of AMEA power, said the project will cement Egypt’s position as a climate for clean energy investment.
“These projects solidify Egypt’s position as a leading destination for clean energy investment in the region,” Al Nowais added.
