Prime Minister Ibrahim Mehleb said 180 companies have offered to invest in renewable energy.
At a meeting with Egyptian businessmen in the UAE on Thursday, Mehleb said Egypt was suffering from an electricity problem last summer because the generated power was 27,000 megawatts.
“But President Abdel Fattah al-Sisi ordered the construction of three new plants with a capacity of 3,600 megawatts,” he said.
Mehleb told them that the Fitch Foundation has pulled Egypt up from an unsafe to a safe country. “And the stock market made its highest profits in 2014,” he added.
Egypt is currently struggling to meet its energy needs as its demand for electricity exceeds its supply, causing major power outages throughout the year. The gas crisis has also weight heavy on Egypt's recovering economy.
Edited translation from Al-Masry Al-Youm
