News Category

Company News

You are here: Home > Company News

Egypt to invest $635 million to build 11 solar power plants   

Author: BAYKEE    Source: BAYKEE’s Official Website    Update: Sep 8, 2017
The Chairman of the Executive Board of the International Finance Corporation Group (IFC), a member of the World Bank, approved a $635 million investment aimed at helping Egypt build, operate and maintain 11 solar power stations.


The total installed capacity of these stations is 500,000-kilowatt, which will be one of the largest private foreign direct investment projects in Egypt's electricity industry in recent years.
This is part of Egypt's landmark solar-power price scheme, a $730 million project in the vicinity of Aswan, aimed at leveraging the country's vast solar energy resources to mobilize private investment to build the world's largest solar photovoltaic power station.
In addition to helping stimulate economic growth, the project will also help to promote local economies, including temporary and long-term employment opportunities, and help reduce greenhouse gas emissions. "This landmark investment shows that as long as there is the right reform policy and the willingness of the government to allow more involvement of the private sector, investors can attract investment in every area, including infrastructure," said Mouayedmakhlouf, director of IFC in the Middle East and North Africa region. "Such investment is at the heart of economic growth, which is what Egypt needs." ”
Egypt's solar-power grid-price project, which includes funding from other institutions, including EBRD and Proparco, is expected to be one of the largest foreign direct investment projects in recent years, attracting as much as $2 billion in investment.

About Baykee :

Baykee — leading integrated power solution provider. Baykee is being dedicated to R&D, manufacturing and selling data center IT infrastructure system solutions, WIND&Solar Photovoltaic power system, charging piles and customized power related products, to providing high quality products and services guarantee to high-end users. Our achievements such as: Kenya Terminal, Bashir Farms, Vodafone Ghana data center, Guard Group Telecom Sites,Nigeria UT Bank Data Center and so on.

Foshan Baykee New Energy Technology Incorporated Company|
Factory adds: Building 4, No.115, Zhangcha 1st Road, Chancheng District, Foshan City, Guangdong Provice, China | 528051
Tel:+86-757-82026952 | Fax:+86-757-82207159 | Whatsapp/Mobile: +86 13242111296 | | | |