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NREA negotiates with 5 banks to obtain EGP 1bn revolving loan

The New and Renewable Energy Authority (NREA) is currently in talks with five local banks to obtain a revolving loan worth EGP 1bn to finance solar power projects with capacities of less than 500 kW. Sources from the NREA said that it is negotiating with Banque Misr, the National Bank of Egypt (NBE), and the …

Mohamed Farag

Benban hosts Egypt’s largest solar power project

For years, Egypt has invested millions to modernise and expand its power capacity and networks. The country has recently been focusing on the expansion of renewable energy projects to meet increasing power demand, diversify the national energy resources, and protect the environment. Although the country’s average level of solar radiation throughout the year is between …

Mohamed Abdel Megeed

Summit’s 3rd day shows rise in renewable energy sector MoUs

Several Memorandum of Understandings (MoUs) were signed between international companies and the Ministry of Electricity regarding solar energy projects. MoUs were signed between Tharwa Investments and Electricity Holding Company to establish a coal-fired power plant with 6,000MW at a total value of $9.6bn. “We met 10 days ago, and now we are signing a MoU,” …

Sara Aggour