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Egypt’s power expansion juggernaut continues to gather momentum, with new solar deals adding to a 50GW-plus power projects pipeline. Meanwhile, the government and companies are sounding out the banks.
Egypt has signed agreements for the development of 51.4GW of new electricity generating capacity since a major conference organized to revive foreign investment in the country. At the time Cairo claimed preliminary deals for 30.4GW of capacity worth a combined $43.4bn were signed during the gathering (MEES, 20 March).
Since then the number of deals has grown and some projects have been firmed up. While credible cost estimates are not available for all the projects, those that have been firmed up account for $23.2bn, while preliminary numbers given out at the conference suggest there could be a further $28bn in the works. Last month Minister of Investment Ashraf Salman told a conference that government aims to add 30GW to generating capacity over the next 10 years, including 8GW of renewables capacity.
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