Egypt’s giant solar part seen fully operational in 2019 – ministry

Egypt expects the 1.6 gigawatt solar park it is building in the south of the country in Aswan to be operating at full capacity this year, the country’s investment ministry said in a statement on Sunday.

The $2 billion project, expected to be the world’s largest solar installation, has been partly financed by the World Bank, which injected $653 million through the International Finance Corporation (IFC).

Some parts of the park are already operating on a small scale, while other areas are still undergoing testing.

Egypt seeks to meet 20 percent of its energy needs from renewable sources by 2022 and up to 40 percent by 2035. Renewable energy currently covers only about 3 percent of the country’s needs.

“Egypt’s energy sector reforms have opened a wider door for private sector investments,” World Bank President David Malpass said during his visit to the site alongside Egypt’s Investment Minister Sahar Nasr.

Source: Reuters