CAIRO - 9 May 2022: The implementation of a solar cell plant in Zafarana area to produce electricity with a capacity of 50 MW is underway, according to the New and Renewable Energy Authority. The Authority stated that the plant will start its operation in the third quarter of 2022, with total investments of about LE 700 million. This came in the Authority's eleventh periodic bulletin, which included a monitoring of renewable energy activities during the third quarter of the fiscal year (2022/2021), which shows the progress of work in the fields of hydro, solar, wind, and biomass. The capacities of the projects under development witnessed a remarkable increase, reaching 3,570 megawatts, with foreign direct investments of approximately $3.5 billion, double its counterpart in 2020. Of these, 78% are for wind energy projects in the Gulf of Suez region on the Red Sea coast with high wind speeds, and 22% for energy solar.
