Egypt’s Electricity Ministry has revealed plans to build a 100MW solar power plant, costing a total of US$700 million between 2012 and 2017. Located at Kom Ombo, near the Aswan High Dam hydro-electric plant, the project will be financed by a number of international institutions, including the African Development Fund and the World Bank. Additional finance is also expected to be provided through the UN’s Clean Development Mechanism (CDM) carbon offsetting scheme, reports the Guardian.
The utility-scale project marks the beginning of the country’s five-year plan, running from 2012-2017, to establish itself as one of the top generators of solar energy in North Africa. The country’s government has set a target of 20% for renewable energy generation by 2010, which it plans to achieve by installing wind and solar power systems. At present, the majority of Egypt’s energy is provided by natural gas-fired power stations, with a small percentage coming from large scale hydroelectric plants on the Nile delta.