Electricity Minister: Egypt to continue cooperation with IRENA to spread renewable energy
Tuesday، 09 October 2018 - 03:29 PM
Minister of Electricity and Renewable Energy Mohamed Shaker said on Tuesday 9/10/2018 that Egypt will continue fruitful cooperation with the International Renewable Energy Agency (IRENA) to spread renewable energy .
Addressing the three-day IRENA conference on the future of renewable energy in Egypt, the minister pointed out that Egypt, despite the challenges the country faced during the past period, managed to introduce reform measures in the energy domain because of political stability .
He said the produced power from new and renewable energy may reach 42% in 2035, adding that there are more than 30 solar energy projects of photo-voltaic cells at Bonyan complex for solar energy with a capacity reaching 1.5 gigawatts and investments of about 2 billion dollars .
The minister said the renewable energy can attract foreign direct investments, praising the role of national institutions in creating low-risk investment climate .
Minister Shaker invited all renewable energy developers to invest in renewable energy projects in Egypt, pointing out to the hydroelectric generation stations at capacity of 2400 megawatts being carried out in mountain of Ataqa in Suez in cooperation with a multinational company.