Dr Ahmed Al Beltagy, head of energy sector, at the European Commission to Cairo, said the EU has approved allocating $ 162 million to finance the energy sector in Egypt.
About $ 60 million had been allocated for restructuring Egypt’s energy sector, said Al Beltagy, elucidating that the fund aims to restructure the sector’s institutional structure and to resume the energy ventures and improve their quality.
He added that the EU also provided $ 2 million to the German Aid Agency (Deutsche Gesellschaft für Internationale Zusammenarbeit- GIZ) to finance the main plan for the new and renewable energy ventures.
Mr. Ahmed Al Beltagy has elaborated that the union also approved a $ 100 million grant to fund the new and renewable energy generation projects, like the plant of generating energy from the wind at 200 megawatt in Gabal Elzeit area, and another project in east Suez Gulf. Moreover, it includes a project of establishing a plant for generating electricity from the sun in Combo City, Aswan, by the system of CBS.
