Egypt seeking investment in solar sector

Egypt's energy demand is growing. In the next ten years ,"other 8,000 megawatts of electricity out of which 4,300 produced by solar energy", will be needed to support higher demand, recently announced Egyptian minister of investment Ashraf Salman, stating that his ministry is promoting international investment in the field of energy production.


Diversifying energy supplies, supporting solar and wind energy as well as mining represents the only way forward, said Mohamed Shaker El Markabi, presiding over the Electricity and Renewable Energy Ministry. According to him, new laws on electricity currently being reviewed by premier Ibrahim Mahlab, will be approved in time for the Conference on economic development in Egypt (EECD - Egyptian Economic Development Conference) to be held in Sharm el-Sheikh from March 13 to March 15 2015. During the course of this significant international meeting, which Egypt considers very important "contracts to invest in coal-fired power stations and photovoltaic plants will be offered," said Investment minister Salman adding that "it's plausible that these agreements shall be signed at the conference".(