Italgen Group recently announced it is planning to allocate around €140 million to wind energy projects in Gabal El Zeit, Egypt. These projects should be capable of producing about 120 megawatts of clean energy a year.
Managing Director of Italgen, Giuseppe De Beni has officially announced that his group, which is currently operating in 22 countries, is ready to offer contributions to “new Egypt,” in order to create the best dynamic environment for business and investment.
According to Electricity and Energy Minister Hassan Yunis, Egypt will generate 280 megawatts (MWs) of solar energy by 2017. Besides this, the Supreme Council of Energy has approved the ministry’s plans to expand projects regarding the solar energy production.
Italy is not the only country that helps Egypt in the renewable energy development. Japan has also made feasibility studies for the Hurgada solar power station, whose capacity is expected to reach 20 MW.
The minister also said that international financing institutions will help Egypt with $440 million to build the 100 MW-Kom Umbo station in Aswan. Another power plant, is planned to be built in Koraymat, about 90 kilometers south of Cairo on the eastern side of the River Nile.
Estimated to cost around $3.27 billion, the plant is considered to become the fourth of its kind in the world, will have two gas turbines, about 40 MW each and will be able to generate 140 MW.
[via Global Arab Network]