Egypt’s NREA achieves EGP 3bln revenues in 2022/2023

Egypt’s New and Renewable Energy Authority (NREA) achieved about three million Egyptian pounds during 2022/2023, recording an increase of more than 670 million pounds over the target, according to its statement on Tuesday.

The installed capacity of the authority’s wind-solar power plants increased to about 1,340 MW during the fiscal year, while the 50 MW solar cell project in Zafarana, Suez Governorate, was launched with investments exceeding 500 million pounds.

In addition, the next few weeks the country will see the launch of a 250 MW wind power project at the Suez Gulf complex on the Red Sea coast, with a total investment of more than six billion pounds.