Egypt’s Ganoub El-Wadi Petroleum Holding Company (Ganope) is currently making economic feasibility study for establishing power plant running on oil shale in Red Sea governorate, Abu Bakr Ibrahim -chairman- said Monday.
Ibrahim stated that Ganope is currently devoting efforts to make use of non-traditional energy sources and enhancing the use of renewable energy sources, asserting that both electricity and petroleum ministries have formed a committee to cooperate in this field.
Ganope is about to sign a Memorandum of Understanding (MoU) with Egypt’s New and Renewable Energy Authority (NREA) to make us of thermal energies to generate electricity, chairman Ibrahim clarified.
In August, Ganope has signed a MoU with Emirati Enmaa Al Ain for Development and Investment Company to establish a number of new projects to develop Gulf of Suez region. The MoU is estimated at around $3.5 billion.
