US firm Concilio Group is studying solar energy projects in Egypt worth US$100 million (LE700 million).
The project is intended to secure 300 megawatts of electricity per year over 25 years.
During a meeting with Egypt’s Trade and Industry Minister Mounir Fakhry Abdel Nour, Concilio Group’s CEO, Oliver Meissner, said Egypt enjoys great prospects for solar energy projects, and its climate enables it to be among pioneers in the field.
Messiner clarified that his company produces more than 9 gigawatts of electricity yearly in several countries across the world.
Abdel Nour said renewable energy projects are a top government priority at present, noting that such undertakings have substantial prospects at remote areas in Upper Egypt.
The minister added that the government is close to setting rates for electricity produced via renewable energy, which, he said, would encourage to attract investments in that field.
