Tuesday, November 21st, 2017

El Sewedy Electric to develop solar power plant in Upper Egypt

<img src="http://www.davidsellers.com/wp-content/plugins/wp-o-matic/cache/eae85a3e7a_2015-06-14T093757Z-1007950001-LYNXMPEB5D05V-RTROPTP-2-OZABS-UK-ELSEWEDY-SOLAR.JPG" width="130" height="86" alt="Workers walk past newly installed solar panels at the Honduran Solar Energy Company SA (COHESSA) and Solar Power SA (Soupy) solar power plant in Nacaome” align=”left” title=”Workers walk past newly installed solar panels at the Honduran Solar Energy Company SA (COHESSA) and Solar Power SA (Soupy) solar power plant in Nacaome” border=”0″ />Egyptian cable maker El Sewedy Electric said on Sunday it had entered into an agreement to develop a 50 megawatt solar energy power plant in the Upper Egypt region. El Sewedy formed the Egyptian Company for Solar Energy Development, a subsidiary that it will invest about $75 million in, which will be in charge of developing, funding, owning and running the power plant, the cable maker said in a statement to Egypt's stock exchange. Egypt is aiming for renewable energy to contribute 20 percent to the country's overall energy usage by 2020.


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