Egypt has decided to reduce the price per kilowatt-hour of renewable energy
At the Gulf of Suez and Aswan in Egypt, five new power plants run by solar and wind power are under construction, with a total capacity of 1,000 megawatts, at a total cost of $1 billion and $500 million.
Egypt's recent decision to lower the price per kilowatt-hour of renewable energy has helped attract foreign and local investment in the sector.Solar power now costs two cents a kilowatt hour, while wind power costs three cents a kilowatt hour.Mohamed El-Khayat, head of the newly formed Renewable Energy Authority, said, "The current solar and wind prices in Egypt are considered to be among the lowest in the world after the reduction."As part of its 2035 energy strategy, Egypt plans to expand the use of renewable energy and improve its energy mix, he said."Wind power projects with a capacity of 500 megawatts are currently being implemented in the Gulf of Suez," he said.Another 70-megawatt solar power project is in the works with the German and Japanese governments.
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