North Africa: Egyptian government to invest $1 billion in solar energy projects
During a conference organized by the Chambers of Commerce in Alexandria last month, the Local and Administrative Development Minister Adel Labib revealed the $1 billion investment plan, stating that the solar projects would help create job opportunities for young people in the country, as well as reduce stress on the country’s electricity grid. Details of the plan remain scarce.
In February, the former electricity minister Ahmed Emam disclosed the government’s target to generate 20% of the country’s energy from renewable energy resources by 2020. It is envisaged that 12 % of the energy will be created by wind power by that time, and the remaining 8% will be produced by other renewable energy sources.
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