Egypt’s renewable energy project was almost triple oversubscribed: Official

Power-generating windmill turbines of The Zafarana project in Al-Ain Sukhna, Egypt, 13 September 2014 (Photo: Hala Safwat)

Power-generating windmill turbines of The Zafarana project in Al-Ain Sukhna, Egypt, 13 September 2014 (Photo: Hala Safwat)

Head of the finance ministry’s PPP unit tells reporters at Euromoney Egypt Conference the renewable energy project was oversubscribed, almost tripling the needed investments

Egypt’s renewable energy project that sets a feed-in tariff to investors, was almost triple oversubscribed, head of the finance ministry’s Public Private Partnership (PPP) unit, Atter Hanourra, told the press on the sidelines of the Euromoney Egypt Conference on Monday.

Egypt has introduced feed-in tariffs for renewable energy projects and passed another law liberalising the production and transmission of electricity in past months to encourage private investment in addressing its energy crunch.

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