Egypt has signed a pact with a Chinese company to initiate preliminary studies and measurements to develop a ten-gigawatt solar energy project. As per the official report the signing of the deal was attended by Prime Minister Mostafa Madbouly and was conducted between a number of government agencies from both Egypt and China, the New and Renewable Energy Authority (NREA), the Egyptian Electricity Holding Company (EEHC), and the China Electric Power Equipment and Technology Company (CEPETC), all of which were based on the “Green Corridor initiative” in Egypt.
Once completed the solar energy project would save 1 Billion US Dollars approximately in natural gas costs producing 29,784 gigawatts per hour of clean energy annually that would contribute to decreasing the 14 million tons of Carbon dioxide emissions produced.
This pact is in line with the Egypt’s strategy implementation framework to increase capacity of renewable energy and limit fossil fuel use to achieve the sustainable target plan by the state.
Mohamed Shaker, the Egyptian Minister of Electricity and Renewable Energy, said, “The country has adopted an ambitious program to advance the electricity sector in various fields, most notably to maximize the exploitation of new and renewable energy resources and encourage the foreign and local private sector to invest in this field, which would contribute to reducing dependence on fossil fuels with continuance in reducing carbon emissions.”