Egypt’s Badr Investors Association (BIA) chairman Alaa El-Sakty revealed that the Association requested from Industrial Development Authority(IDA) to allocate plot with an area of 400 feddan in Badr city to establish solar power with investments around EGP4 billion.
The project comes among the acts of the Holding company for developing the city that has recently launched by BIA with EGP200 million initial capital, stressing that the plant will generate capacity up to 300 MW.
In statements to Amwal Al Ghad on Monday, El-Sakty noted that it takes one year and half to start operating the plant.
In the last year, the government announced new tariff for the purchase of power from the private sector, and identified 82 piasters per kilowatt of wind power and 1.02 pound per kilowatt of solar energy.
Furthermore, new tariff will meet with demands from investors and encourage more new investments.