Egypt is set to construct two solar power stations worth 1 billion Egyptian pounds ($20.60 million) with financial support from the European Union (EU), according to the petroleum ministry.
The first project, valued at 550 million Egyptian pounds, will be located at the Assiut Oil Refining Company and is expected to generate 10 megawatts of power within 11 months.
The second project, costing 500 million Egyptian pounds, will be at the Egyptian General Petroleum Corporation (EGPC) and will produce 6.5 megawatts of solar energy, both projects are funded by an EU grant.
Leveraging its abundant solar irradiation and vast desert areas, Egypt is accelerating its renewable energy goals, aiming to generate 42 per cent of its power from renewables by 2030, a target set five years ahead of its previous plan.
