Eni to build renewable energy projects in Egypt

Italian oil major Eni has agreed a common strategy with Egyptian government to build renewable energy projects in the country, the company announced Thursday.

The first project will be a solar plant in Sinai with a maximum output of 50 megawatts. Construction is expected to be sanctioned next week and completed by the end of 2017.

The project is part of Eni’s push into green energy, with the aim of bringing 420 megawatts of mostly solar power generation online by 2022.

Eni, the owner of the massive Zohr gas field expected to start production next year, currently produces about 210,000 barrels of oil equivalent per day in Egypt.

Source: Reuters