NewEnergyNews: Egypt Fires Up $2.8BIL Solar Project

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    Friday, March 16, 2018

    Egypt Fires Up $2.8BIL Solar Project

    Desert Sun to Power Upper Egypt With $2.8 Billion Solar Park

    Salm El Wardany, March 14, 2018 (Bloomberg News)

    “Egypt inaugurated the first solar power plant at a remote desert complex where the government plans to generate as much as 1.8 gigawatts from the sun, cutting the most populous Arab nation’s reliance on dirty and expensive fossil fuels… The 64-megawatt facility is the first of 32 units that the government targets for construction at Benban Solar park in southeastern Aswan province. The project, with all the plants, is to be completed next year at a cost of $2.8 billion…Egypt currently produces more than 90 percent of its power from oil and natural gas…Benban Solar park, along with other projects in planning, should help Egypt scale back its use of hydrocarbons as the country targets generating 20 percent of its electricity from renewables by 2022…Formerly a gas exporter, Egypt must now import liquefied natural gas, or LNG, at a high cost to meet its energy needs…[New gas fields] should help the country close its supply gap, trim its import bills and maybe even resume exports. Solar and wind projects [buoyed by a restructured incentive program] will help transform the country’s menu of energy options…” click here for more

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