Egyptian Minister of Electricity and Renewable Energy Mohamed Shaker said today that his country is negotiating with foreign investors on establishing renewable energy projects with a capacity of 2000 megawatts to generate electricity from wind and solar energy.
Shaker made the remarks during a press conference held in Cairo on the sidelines of the opening of the Siemens Energy Services Center.
Shaker added that negotiations with foreign investors will end before the end of this year.
Egypt is struggling to attract foreign investment outside the oil and gas sector, despite the International Monetary Fund’s praise of the economic reform program it has been implementing since 2016.
Shaker said that the expected capacities of the new projects that are being negotiated would raise the total electricity generated from renewable energy projects to 6000 MW.
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