Egypt’s Industrial Modernisation Centre (IMC) has signed a cooperation agreement with Sixth of October for Development and Investment (SODIC) to establish a photovoltaic (PV) power plant in Sheikh Zayed in collaboration with the United Nations Development Program (UNDP), state-run newspaper Ahram reported.
With a capacity of 330 kilowatt hour (Kwh), the new plant will generate 520 megawatt hour (Mwh) annually, CEO of IMC, Amr Taha, revealed.
In addition, this project will help cut carbon emissions by 300 tonnes a year, Taha added.
With the rising costs of conventional electricity production, companies tend to shift towards solar energy which can be used in industry, tourism, and housing sectors, he noted.
In 2018, a total of 37 PV power projects at a combined cost of $26 million generated about around 2.2 MW.