Prime Minister Sherif Ismail demanded completion of ongoing technical and financial studies for the 300 MW solar power plant, which will be carried out Canadian-US Sky Power, as a prelude to signing the final agreement of the project.
The government intends to provide any means necessary to begin implementation of this project, said Ismail during his meeting with the company’s delegation on Sunday evening, in the presence of Minister of Investment Ashraf Salman, according to statement by the cabinet.
During the meeting, steps taken until now were presented, including studying the suggested sites in western Minya. The project also includes manufacturing the plant’s solar panels, according to cabinet spokesman Ambassador Hossam Al-Qaweesh.
The project aids the transfer of solar technology to Egypt as well as creating many job opportunities in building the plants and manufacturing the panels, Al-Qaweesh said.
Training programs abroad will be available for technicians and engineers working on the project, which will increase the efficiency of Egyptian labour force in order to be capable of operating and managing these plants and factories, he added.
Egypt is seeking to diversify its sources of energy production, especially in the wake of a decline in its oil production and becoming an oil importer after being an exporter since 2012.
The government is currently giving priority to the solar power projects; many offers of establishing power plants to produce renewable energy are being studied.
The cabinet has significantly amended the governing legislation of electricity production and sale in Egypt in 2015. These amendments allow the private sector to produce electricity along with government for the first time.
According to Al-Qaweesh, the government is accelerating its steps to reassure the business and finance communities, both local and foreign, through legislative and administrative reforms, in order to attract new investments which would increase employment rates and contribute to increasing growth and development.