El Sewedy Electric plans to invest $1.5bn in Africa before 2022-end
El Sewedy Electric might invest about $1.5 billion through three renewable energy projects in Africa before the end of 2022, CEO Ahmed El Sewedy told a local press.
The group’s future plans are still under consideration, CEO asserted that no contracts have signed yet.
The investment considered as part of a broad plan to initiate renewable projects in as many as 10 African countries.
The company has a group of green projects in Egypt, as it working with the Egyptian government to build Electric Vehicle (EV) charging stations in Sharm El Sheikh.
El Sewedy group also discussing to establish 300-MW solar energy project in the new Ain Sokhna economic zone with amount of $400 million, as it could establish individually or as part of a consortium.
Moreover, the company collaborating with the government to build a plant to produce water-saving sprinklers. The factory expected to become operational in July.
