The European Bank for Reconstruction and Development has earmarked up to US$500 million for 2016 to support Egypt’s new solar energy programme, which aims to construct up to 2,000 megawatts of utility-scale solar generating capacity as part of an ambitious target to secure 20% of electricity from renewable sources.
The 2,000MW capacity is expected to be delivered through around 40 projects of approximately 50MW each as part of a strategy to increase renewable power generation in Egypt by mobilising private sector investors. Many of these projects will be located on a planned 1.8-gigawatt site near Benban in Upper Egypt, which on completion will be the largest solar park in the world.