Ancient Egyptians built temples to the Sun God Ra. Time for this African nation to reclaim its glory and time in the sun, with solar energy deal? Image via mrs_logic
Maybe it’s the product of the recent MENASOL solar conference in Cairo that Green Prophet attended. Now, Bloomberg news is reporting that Spain’s largest solar-thermal power plant builder, Actividades de Construccion y Servicios (ACS) is looking to Egypt to meet the world’s carbon-free energy demands.
ACS’s renewable-energy unit, Cobra, is now talking with Egypt to build as much as a 100 megawatt plant, reports Maged al-Sherbiny, Egypt’s assistant minister for scientific research. The question is if Egypt can raise the capital. Looking to the World Bank and the European Union, Egypt which borders Israel, also looks to the EU and its goal of generating 20 percent of its energy from renewables sources over the next 10 years.
The government has offered Madrid-based ACS a 25-year fixed price for its solar power, use of the generator site for 99 years and tax breaks on construction materials, al-Sherbiny said to Bloomberg.
“We’d be very cautious with the legal framework” for a deal in Egypt, Cobra Managing Director Antonio Gomez said. “Look what’s happening to us here with renewable tariffs.”
More solar energy news from Egypt:
Cautious Optimism at Egypt’s MENASOL Solar Energy Conference
Egypt and Israel Consider Joint Solar Energy Project in Sinai
Cold Peace Might Keep Egypt-Israel Solar Energy Deal on Ice
(Above image is of Abu Simbel temples (أبو سمبل), two massive rock temples in Nubia, southern Egypt on the western bank of Lake Nasser about 290 km southwest of Aswan. It is part of the UNESCO World Heritage Site known as the “Nubian Monuments,” which run from Abu Simbel downriver to Philae (near Aswan)).