{"id":577732,"date":"2022-12-04T03:56:59","date_gmt":"2022-12-04T03:56:59","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/04\/renewable-energy-authority-axes-50-mw-aswan-solar-plant\/"},"modified":"2022-12-04T03:56:59","modified_gmt":"2022-12-04T03:56:59","slug":"renewable-energy-authority-axes-50-mw-aswan-solar-plant","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/04\/renewable-energy-authority-axes-50-mw-aswan-solar-plant\/","title":{"rendered":"Renewable energy authority axes 50-MW Aswan solar plant"},"content":{"rendered":"

<\/a> One solar project just bit the dust:<\/strong> A 50-MW solar plant in Aswan has been called off by the New and Renewable Energy Authority (NREA) in a bid to reduce the government\u2019s financing burdens, Bloomberg Asharq<\/a> reported, citing three unnamed officials from the authority. The Kuwait-based Arab Fund for Economic and Social Development had agreed in 2017 to put up the bulk of the capital for the KWD 34.5 mn project<\/a>, with the NREA covering just 25% of the project\u2019s cost.<\/p>\n

The problem? The NREA doesn\u2019t want to take on any new debt<\/strong>. The authority is working to pay off debts to a number of creditors and doesn\u2019t want to increase its financing burdens, one of the sources said.<\/p>\n

It has been a good month for Egypt\u2019s renewables sector:<\/strong> The cancellation comes a few weeks after the government secured some USD 10 bn<\/a> in funding for renewable energy projects at COP27. Initial agreements worth USD 119 bn<\/a>for green hydrogen and wind power projects were signed by the government with global players during the summit last month.<\/p>\n","protected":false},"excerpt":{"rendered":"

One solar project just bit the dust: A 50-MW solar plant in Aswan has been called off by the New and Renewable Energy Authority (NREA) in a bid to reduce the government\u2019s financing burdens, Bloomberg Asharq reported, citing three unnamed officials from the authority. The Kuwait-based Arab Fund for Economic and Social Development had agreed […]<\/p>\n","protected":false},"author":1,"featured_media":577733,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7207],"tags":[93,72,685,151],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-577732","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-energy","tag-enterpriseam","tag-kuwait","tag-renewables","wpautop","entry"],"acf":{"mongo_id":"f746eca3-8420-4385-9615-0c87d6e2e0ce","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/12\/37.jpg","photo_position":"above","related_issue":[577721],"teaser":"","voice_url":""},"yoast_head":"\nRenewable energy authority axes 50-MW Aswan solar plant - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/04\/renewable-energy-authority-axes-50-mw-aswan-solar-plant\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Renewable energy authority axes 50-MW Aswan solar plant\" \/>\n<meta property=\"og:description\" content=\"One solar project just bit the dust: A 50-MW solar plant in Aswan has been called off by the New and Renewable Energy Authority (NREA) in a bid to reduce the government\u2019s financing burdens, Bloomberg Asharq reported, citing three unnamed officials from the authority. The Kuwait-based Arab Fund for Economic and Social Development had agreed […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/04\/renewable-energy-authority-axes-50-mw-aswan-solar-plant\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-04T03:56:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/37.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/04\/renewable-energy-authority-axes-50-mw-aswan-solar-plant\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/04\/renewable-energy-authority-axes-50-mw-aswan-solar-plant\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Renewable energy authority axes 50-MW Aswan solar plant\",\"datePublished\":\"2022-12-04T03:56:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/04\/renewable-energy-authority-axes-50-mw-aswan-solar-plant\/\"},\"wordCount\":184,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/04\/renewable-energy-authority-axes-50-mw-aswan-solar-plant\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/37.jpg?fit=%2C&ssl=1\",\"keywords\":[\"energy\",\"EnterpriseAM\",\"Kuwait\",\"renewables\"],\"articleSection\":[\"Energy\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/04\/renewable-energy-authority-axes-50-mw-aswan-solar-plant\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/04\/renewable-energy-authority-axes-50-mw-aswan-solar-plant\/\",\"name\":\"Renewable energy authority axes 50-MW Aswan solar plant - 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The EGP 1.4 bn plant will be financed by the Kuwait Fund for\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":574101,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/30\/nrea-signs-50-mw-zafarana-solar-plant-agreement-with-belectric\/","url_meta":{"origin":577732,"position":1},"title":"NREA signs 50 MW Zafarana solar plant agreement with Belectric","author":"enterpriseam admin","date":"30 August 2020","format":false,"excerpt":"The New and Renewable Energy Authority (NREA) has signed an agreement with Belectric to construct a 50 MW solar power plant in Zafarana, NREA head Mohamed El Khayyat told the local press. The project will be funded by the German Development Bank (KfW) but details on the total cost of\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":570960,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/23\/kom-ombo-solar-plant-starts-operations-in-aswan\/","url_meta":{"origin":577732,"position":2},"title":"Kom Ombo solar plant starts operations in Aswan","author":"enterpriseam admin","date":"23 April 2020","format":false,"excerpt":"The New and Renewable Energy Authority (NREA) has brought online the 26 MW Kom Ombo solar plant, according to the local press. 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The plant will have an energy storage battery, which will be the first of its kind in Egypt, the official\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":597055,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/15\/nrea-to-receive-offers-for-50-mw-zaafarana-solar-plant-on-25-july\/","url_meta":{"origin":577732,"position":4},"title":"NREA to receive offers for 50 MW Zaafarana solar plant on 25 July","author":"enterpriseam admin","date":"15 July 2019","format":false,"excerpt":"The New and Renewables Energy Authority (NREA) will receive on 25 July financial offers from three international bidders in its tender to construct a 50 MW solar plant in Zaafarana, sources from the authority told the press. 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