Dubai’s Phanes Group eyeing solar projects in Egypt under USD 200 mn investment plan

INVESTMENT WATCH- Phanes Group eyeing potential solar power projects in Egypt worth USD 200 mn: Dubai-based solar energy developer Phanes Group is eyeing new projects in Egypt in the first phase of a plan to invest USD 200 mn in the region’s renewable energy sector, CEO Martin Haupts tells The National in an interview. The company is looking to develop projects with a combined capacity of 150 MW. “‘We’re looking at Egypt from two perspectives — one is we have a number of [agreements] that are advancing in the pipeline and the second round of programs could be interesting once we see how the first phase pans out,’” he said. “‘You have a lot of industry in Egypt, which is good. So we’re looking at the [critical national infrastructure (CNI) segment. It's interesting and feasible in the country.”