14 June 2014

Egypt: Projects Between Egypt, a U.S. Energy Company At U.S. 100 Million Cost

Investment, Trade and Industry Minister Mounir Fakhry Abdel-Nour met with Oliver Misiner the Chairman of US Koncelio Group, specialized in projects to generate electricity from solar energy.

The two sides reviewed a number of projects scheduled to be established by the company during the coming period at a capital of USD 100 million.

In a statement on Saturday 14/06/2014, the Minister pointed out that the new and renewable energy projects come on top of the government's priority during this stage. He added that Egypt is currently enjoying a great opportunity to establish solar energy projects, especially in remote areas in Upper Egypt.

For his part, Misiner said that the company is currently considering the establishment of a number of solar energy projects in Egypt to generate 300 megawatts of electricity annually over 25 years.

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