Arab Finance: The bill for renewable energy purchases by the Egyptian Ministry of Electricity and Renewable Energy has increased by around EGP 700 million monthly, hitting EGP 2 billion, Asharq Business reported, citing a government official.

This came after the liberalization of the exchange rate of the Egyptian pound earlier in March.

The ministry’s monthly purchases of wind power are valued at $10 million, with the purchases including wind plants owned by investors and the New and Renewable Energy Authority (NREA), the source said.

It is worth noting that the ministry purchases wind and solar power from investors operating in the country in hard currency.

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