Electricity and Energy Minister Hassan Yunis signed Sunday 30/9/2007 a contract to set up the first solar power station in Egypt with investments of LE 870 million.

The 140 megawatt plant will be built in El-Koraimat, Beni Suef governorate, Yunis said in statements after the signing. 

The solar thermal plant will produce an 985 million kwh of electricity a year, Yunis said, adding that the project will help reduce emission of 38,000 tonnes of CO2.

The project will be finalised in 2010.

The project is financed by a dlrs 50 million grant from Global Environment Facility (GEF), a dlrs 97 million soft loan from Japan Bank for International Cooperation and the National Bank of Egypt, he added.

 

Source: Egypt State Information Service