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FINANCIAL NEWS
Egypt’s NREA to establish solar power plant in Hurghada
09 Aug 2016
(MENAFN) The New and Renewable Energy Authority (NREA) will establish a solar power plant in Hurghada with a capacity of 20 MW.
Meanwhile, the project will be financed by a loan from the Japan Intl’ Cooperation Agency’s, which worth USD91mn.
The JICA completed the project’s feasibility study and paid a grant worth USD1.5mn that would launch equipment at the solar plant’s site.
Moreover, the cooperation between both sides focused on the technical side, so that Egypt can take advantage from Japanese technology in the field of producing elect.
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