Canada’s SkyPower will receive 14 square km of land to build USD 500 mn worth of solar power projects producing 600 MW, New and Renewable Energy Authority (NREA) head Mohamed El Khayat tells Al Borsa. The Egyptian Electricity Transmission Company will sign a power purchase agreement with SkyPower once the company reaches financial close on the agreement and has completed its feasibility study on the project. It is unclear as of yet if this is part of the whopping USD 5 bn investment pledge by the company to develop 3 GW of solar power capacity, or whether the company has reduced its investments. The USD 5 bn project was originally signed during the March 2015 Egypt Economic Development Conference and resurrected earlier this year.

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