Masdar, the Emirati renewable energy giant, has received approval from the Egyptian government to invest more than 900 million dollars in the construction of solar power plants. The project aims to establish solar power stations in Upper Egypt, more precisely in the Aswan Governorate. These plants are expected to have a combined capacity of around 1,000 megawatts

The Egyptian government, represented by the Ministry of Electricity and Energy, has approved the offer presented by the Emirati company Masdar, specialized in renewable energies, for the construction of solar power plants with investments in excess of 900 million dollars. An official reported this to “Asharq”, speaking on condition of anonymity

The offer involves the launch of power plants, with a total production capacity of about a thousand megawatts, which will be built in Upper Egypt, including in the Aswan Governorate, according to the official. The projects will be implemented under the Boo (Build, Operate, Own) system, in which Masdar will implement, finance, and own the project, while the Egyptian Electricity Transmission Company, affiliated with the Ministry of Electricity, will commit to buying all the output of the projects over the entire lifespan of the plants,