Egypt set to build world’s largest solar park: Reports

File photo of solar plants (REUTERS)
Updated 25 February 2018

Egypt set to build world’s largest solar park: Reports

Egypt is currently constructing what is set to become the world’s largest solar park. Authorities hope the park will produce something between 1.6-2.0GW of solar power by the middle of 2019, according to local reports.
The Benban solar park is located near Aswan and aims to increase Egypt’s energy generation capacity. It is named after a Nile River village close to the power plant in the Eastern region of the Sahara Desert.
The ambitious project could transform Egypt into a major solar energy player in the world.
The solar park will be given a 25 year contract to sell its electricity at 7.8 cents per kWh to the the state-owned Egyptian Electricity Transmission Company (EETC) and pegged to the value of the US dollar.
So far, 29 projects have received financing of at least $1.8 billion. They represent almost 1.5GW of solar power to be produced on the 14.3 square-mile plot of land.
Egyptian officials believe the renewable energy project will produce 20 percent of Egypt’s power by 2020, and will serve 350,000 Egyptians and provide eco-friendly and cost-efficient power.


UAE, Egypt plan $20 bln spending on social, economic projects

Updated 14 November 2019

UAE, Egypt plan $20 bln spending on social, economic projects

  • Sheikh Mohammed made the announcement on Twitter during a visit to by Sisi
  • The funds will be used to establish joint strategic investment projects, specialized funds and investment tools, in a number of sectors

DUBAI: The United Arab Emirates and Egypt plan to jointly invest $20 billion in economic and social projects, under a bilateral project announced by the Crown Prince of Abu Dhabi Sheikh Mohammed bin Zayed Al-Nahyan on Thursday.
Sheikh Mohammed made the announcement on Twitter during a two-day visit to the UAE by Egypt's President Abdel Fattah El-Sisi.
Abu Dhabi Development Holding Company and Egypt's sovereign wealth fund will use the funds to establish joint strategic investment projects, specialized funds and investment tools, in a number of sectors, Egyptian presidential spokesman Bassam Rady said.