Arab Finance: The New and Renewable Energy Authority (NREA) has earmarked EGP 7.799 billion to develop new projects during the upcoming fiscal year (FY) 2024/2025, as per a statement by the Egyptian Ministry of Electricity and Renewable Energy.
These projects include establishing a power generation plant using solar cells with a capacity of 20 megawatts in Hurghada.
The power plant will be constructed in cooperation with the Japanese International Cooperation Agency (JICA).
This comes within the state’s framework to increase the contribution of renewable energy resources to more than 42% of the national electricity mix in 2030.