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RIYADH: Egypt’s Hassan Allam Holding is planning to build a 5MW solar photovoltaic plant in Sharm El-Sheikh, Meed reported.
The engineering, construction, and infrastructure company’s plant — which is expected to offset as much as 4,000 tonnes of carbon dioxide per year — is projected to generate more than nine GW hours of green energy.
This comes as Egypt will be hosting this year’s UN Framework Convention on Climate Change in the city.
Upon construction, the plant will contribute to decarbonizing the energy sector in line with Egypt’s Intended Nationally Determined Contributions which also supports the targets of the UNFCCC, according to the firm.
Egypt has committed to a goal for renewable energy to meet 42 percent of the country’s electricity needs by 2030.
From the 3.084 GW variable renewable energy installed capacity in Egypt, 1,631 MW is solar photovoltaic while 1,409 MW is wind power generation capacity.
IFC closes $653 million financing for Egypt solar plantsEBRD, partners boost environmental standards in Egypt energy sector
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