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Egypt plans to launch all energy projects via auction scheme

Egypt plans to launch all energy projects via auction scheme
Egypt aims to raise the share of renewables to 42% of electricity consumption by 2035

Cairo – Mubasher; Egypt plans to launch all energy projects through the auction scheme, which will help the country implement energy projects at the lowest prices, the Deputy Minister of Electricity and Renewable Energy, Osama Asran, said.

The country managed to receive competitive offers at two cents per kilowatt hour for solar energy and three cents per kilowatt hour for wind energy, Asran added in a statement on Wednesday.

A 7,650-square kilometre land has been allocated for the implementation of renewable energy projects with capacities of up to 35 gigawatts of wind power and 55 gigawatts of solar energy, he pointed out. 

The country aims to increase the share of renewables to 42% of total electricity consumption  by 2035.