{"id":646264,"date":"2017-06-11T04:13:44","date_gmt":"2017-06-11T04:13:44","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/11\/skypowers-usd-5-bn-3-gw-solar-pv-project-gets-green-light-from-cabinet\/"},"modified":"2017-06-11T04:13:44","modified_gmt":"2017-06-11T04:13:44","slug":"skypowers-usd-5-bn-3-gw-solar-pv-project-gets-green-light-from-cabinet","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/11\/skypowers-usd-5-bn-3-gw-solar-pv-project-gets-green-light-from-cabinet\/","title":{"rendered":"SkyPower\u2019s USD 5 bn, 3 GW solar PV project gets green light from cabinet"},"content":{"rendered":"

<\/a> INVESTMENT WATCH- <\/strong>The Ismail cabinet voted on Thursday to green-light a plan from Canada\u2019s SkyPower<\/strong><\/a> to develop a 3 GW solar PV project<\/strong>. The USD 5 bn project was originally signed during the March 2015 Egypt Economic Development Conference<\/a>, and was resurrected earlier this year<\/a>.<\/p>\n

The news came as the European Bank for Reconstruction and Development (EBRD) has approved a USD <\/strong>500 mn framework to finance renewable energy projects in Egypt<\/strong>, the institution said in a statement<\/a>. \u201cThe financing, approved by the EBRD\u2019s Board of Directors on 7 June 2017, supports the development of private renewable energy projects under the Egyptian government's feed-in-tariff programme. That program aims to stimulate private investment in over 4 GW of wind and solar power.\u201d EBRD\u2019s board approved 13 projects under the same framework and three others are scheduled for discussion later this month. In total the 16 power plants would deliver 750 MW of solar photovoltaic capacity and are expected to reduce carbon dioxide emissions by 900k tonnes a year. \u201cWe have been working with the Egyptian authorities since 2014 to help them fulfil their ambitious goals in this area. We are delighted now to be in a position to commit very significant financing to projects, which we expect to start construction before the end of 2017.<\/strong> This progress is really a tribute to the Egyptian government\u2019s sustained commitment to making the best use of their abundant solar and wind resources to move to a more diverse and sustainable energy sector,\u201d said Harry Boyd-Carpenter, head of power and energy at EBRD.<\/p>\n","protected":false},"excerpt":{"rendered":"

INVESTMENT WATCH- The Ismail cabinet voted on Thursday to green-light a plan from Canada\u2019s SkyPower to develop a 3 GW solar PV project. The USD 5 bn project was originally signed during the March 2015 Egypt Economic Development Conference, and was resurrected earlier this year. The news came as the European Bank for Reconstruction and […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-646264","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"0a5677e3-3715-4412-83b7-1858fafea74f","order":"0","is_powered_by":true,"section_story_id":"57a4d8ae-5b46-4baf-8467-f8b96273dffd","story_type":"1","photo_url":"","photo_position":"above","related_issue":[646255],"teaser":"","voice_url":""},"yoast_head":"\nSkyPower\u2019s USD 5 bn, 3 GW solar PV project gets green light from cabinet - 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\/2017\/06\/11\/skypowers-usd-5-bn-3-gw-solar-pv-project-gets-green-light-from-cabinet\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SkyPower\u2019s USD 5 bn, 3 GW solar PV project gets green light from cabinet\" \/>\n<meta property=\"og:description\" content=\"INVESTMENT WATCH- The Ismail cabinet voted on Thursday to green-light a plan from Canada\u2019s SkyPower to develop a 3 GW solar PV project. 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