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FINANCIAL NEWS
Egypt to build 1.000MW solar station at USD3.3b Chinese funding
18 Aug 2016
(MENAFN) Egypt will construct 1.000MW solar power station and a solar panels factory, which will be implemented in two phases, 500MW each.
Accordingly, China is predicted to fund the establishment of the station and the factory with USD3.3bn in concessional financing.
Moreover, the project would balance the MOU signed by the Ministry of Intl” Cooperation with the Ministry of Military Production and China to help regional production.
On the other hand, many solar firms had disputes with the Ministry of Elect over the deal for purchasing solar energy according to the feed-in-tariff system.
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