{"id":618549,"date":"2024-04-16T00:00:00","date_gmt":"2024-04-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/16\/egypt-to-build-two-solar-plants-with-eu-funds\/"},"modified":"2024-04-16T00:00:00","modified_gmt":"2024-04-16T00:00:00","slug":"egypt-to-build-two-solar-plants-with-eu-funds","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/16\/egypt-to-build-two-solar-plants-with-eu-funds\/","title":{"rendered":"Egypt to build two solar plants with EU funds"},"content":{"rendered":"

The gov\u2019t is setting up two solar plants with EU funding: <\/strong>The Madbouly government unveiled its plans to build two solar power plants for the state-owned Egyptian General Petroleum Corporation (EGPC) worth over EGP 1 bn to be financed by a grant from the European Union, the Oil Ministry said in a statement<\/a>. <\/p>\n

Plant #1: <\/strong>The first plant \u2014 an EGP 550 mn project \u2014 will generate some 10 MW of power for EGPC subsidiary Assiut Oil Refining Company<\/a> and is expected to be completed in 11 months. The government has tapped a consortium of state-owned petroleum-focused contractors Enppi and Petrojet to carry out the project. <\/p>\n

Plant #2: <\/strong>Another EGP 500 mn will go towards a 6.5 MW capacity solar energy project for the EGPC, the statement said without disclosing any further details. <\/p>\n

Where is the money coming from? <\/strong>The entirety of the projects\u2019 cost will be covered by a grant from the EU. While the statement doesn\u2019t disclose if the grant is part of the recently announced EUR 7.4 bn aid package we\u2019re getting<\/a> from the EU, it could be part of the EUR 600 mn in grants the bloc is giving us. The EU also earmarked<\/a> EUR 35 mn to develop our renewable energy capacities under the government\u2019s Nexus for Food, Water, and Energy initiative in 2022. <\/p>\n

Remember:<\/strong> The government wants to generate<\/a> 42% of its electricity from renewable sources by 2030, and wants renewables to make up almost 12% of electricity output this fiscal year.<\/p>\n","protected":false},"excerpt":{"rendered":"

The entirety of the projects\u2019 cost will be covered by a grant from the EU<\/p>\n","protected":false},"author":1,"featured_media":618550,"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":[93,72,371,151,7234],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-618549","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-energy","tag-enterpriseam","tag-oil-ministry","tag-renewables","tag-solar-power","wpautop","entry"],"acf":{"mongo_id":"26cf207c-94e8-442c-9ff1-9401a36869b1","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/952.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt plans to build two solar plants with EU funding","related_issue":[618535],"teaser":"The entirety of the projects\u2019 cost will be covered by a grant from the EU","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.07f98709-09c2-4bab-b20f-192b18c6dcf2.mp3"},"yoast_head":"\nEgypt to build two solar plants with EU funds - 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\/2024\/04\/16\/egypt-to-build-two-solar-plants-with-eu-funds\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt to build two solar plants with EU funds\" \/>\n<meta property=\"og:description\" content=\"The entirety of the projects\u2019 cost will be covered by a grant from the EU\" \/>\n<meta property=\"og:url\" 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