Egypt fast tracks renewables target with solar energy platform
The platform is expected to prompt the installation of small- and medium-scale solar plants, industry expert says
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The platform is expected to prompt the installation of small- and medium-scale solar plants, industry expert says
The concessions were awarded to BP, ExxonMobil, TotalEnergies, Chevron, and Shell.
Some USD 12 bn is allocated pilot phase, with the remaining USD 29 bn allotted for the the first phase
The 5-year project is funded by USAID
Global electricity grids need to double in size by 2040 in order to meet climate targets
The Madbouly government is planning on bringing in USD 5 bn from green bonds over the next five years
Watch this space on fresh renewables targets, pan-African payments, and the privatization program
The company’s second solar grid is set to go live in June
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