Egypt launches USD500 million Abydos Solar PV Plant in Aswan
Date
12/15/2024 7:47:42 AM
(MENAFN) Egypt inaugurated the USD500 million Abydos Solar PV Plant in Aswan on Saturday, marking a significant step in the country's efforts to boost its renewable energy production. Developed by Dubai-based energy company AMEA Power, the 500-megawatt solar plant was completed in just 18 months and is expected to generate 1,500 gigawatt-hours of clean energy annually. This output will power around 300,000 households and help offset 782,300 tonnes of CO2 emissions.
Prime Minister Moustafa Madbouly highlighted the plant as a pivotal part of Egypt's national strategy to reduce dependence on traditional energy sources and to enhance renewable energy capacity. The project also aims to alleviate power shortages that plagued the country during the previous summer, when daily power cuts of up to three hours were common due to high electricity demand. The new solar plant is expected to support the government's efforts to mitigate such outages, particularly during peak summer months.
The project is an essential part of Egypt’s broader green energy strategy, which aims to transition toward more sustainable energy sources. AMEA Power's chairman, Hussain Al Nowais, emphasized that the plant would help Egypt address energy shortages and accelerate its green power initiatives. The first electricity from the plant was delivered to the national grid last week.
The Abydos Solar PV Plant was funded by the International Finance Corporation, the Dutch Entrepreneurial Development Bank, and the Japan International Cooperation Agency. This investment aligns with Egypt’s goals to enhance its energy infrastructure and move towards a more sustainable and resilient energy future.
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