Voltalia plans to invest USD 800 mn in Egypt over the next five years

INVESTMENT WATCH- France’s Voltalia plans to invest as much as USD 800 mn in Egypt’s renewable energy sector over the next five years, Regional Director Emad Ghaly said yesterday. The company plans to build around 500 MW-worth of wind farms and 300 MW-worth of solar power plants, he said, adding that “Voltalia agreed with a number of French banks to finance the projects planned, and seeks to expand the implementation of solar and wind stations in West Nile and Gulf of Suez.” Voltalia is already building a 25 MW solar plant in the Benban solar power complex in Aswan, according to Ghaly.