The first project involves the construction of a 10-megawatt solar power generation station at the Assiut Oil Refining Company. Enppi and Petrojet, two subsidiaries of the petroleum sector specializing in engineering designs, general contracting, and construction, have been assigned to undertake this venture
The new prices are in line with the government’s strategy to move away from paying power subsidies, however, the government has delayed adjusting prices since 2021 as inflation began to hike due to the pandemic
Prime Minister Mostafa Madbouly, attending the forum on behalf of President El Sisi, witnessed the signings. Madbouly underscored Egypt’s interest in growing the number of green energy projects in the country, as well as providing new incentives to attract further investment within the sector
President El-Sisi also stressed the importance of international companies and the private sector’s contribution in the fields of oil, gas, and renewable energy, as it aligns with Egypt's aspiration to become a regional hub for oil production and energy trading.
Talks between the authority and Actis began following an announcement by Minister of Planning and Economic Development Hala El Said last month
