The Egyptian government plans to attract $4 billion in foreign investment in the renewable energy sector next year. The target plan will be entirely private sector based and different from existing projects that have been contracted or are currently under development, which include projects implemented by Saudi Arabia's ACWA Power, UAE's EMEA Power, Norway's Scatec and Orascom's alliance.
The features of the target plan were reviewed with international companies with Japanese, French, Chinese, German, Italian, Spanish and American nationalities, and they have expressed their desire to cooperate, invest and implement projects to produce electricity from solar and wind energy, and meetings are expected with representatives of companies before the end of next December.
