Egypt is expected to depend 25 percent on solar power by 2030, Emad Ghaly -President Renewable Energy Egypt and Head of Wind Power Middle East at Siemens S.A.E.- stated Tuesday.
He made these remarks during the second edition of the Annual Builders of Egypt Forum took place on 1-2 March 2016 in The Nile Ritz-Carlton.
Builders of Egypt held under the rubric “A Road to develop National Projects” to discuss the world’s latest technologies in the construction industry and how to benefit from them locally.
He added that the government is paying great intensions to investing in renewable energy field.
Ghaly said that Siemens is currently executing large projects in Egypt to generate around 2,000MW through establishing 12 wind power plant in addition to a factory for manufacturing blades of wind turbines in Ain Sukhna with self-finance.
Siemens targets adding around 4,400MW of the total capacities by 2017 and reaching the capacity of 2,000 MW , i.e. 100 percent, by 2018.
Ghaly clarified that Siemens has overcame the financing problem in its projects through depending on self-finance in addition to borrowing from a number of banks and financial organisations.
Siemens is also training, qualifying, and encouraging local industry by those new investments, the official clarified.