Egypt aims for 4,300MW of green energy

Egypt is looking for investors to finance 4,300MW of renewable energy projects. The International Finance Corporation (IFC) is helping the nation attract $8 billion (£5bn) of investment in the next four […]

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By Jacqueline Echevarria

Egypt is looking for investors to finance 4,300MW of renewable energy projects.

The International Finance Corporation (IFC) is helping the nation attract $8 billion (£5bn) of investment in the next four years.

The IFC is also planning to invest between $1.2 billion (£0.76bn) and $2 billion (£1.26bn) in a range of projects, including renewable energy.

Mouayed Makhlouf, IFC Regional Director for the Middle East and North Africa said: “Governments in the region are increasingly realising the importance of renewable energy to reduce electricity shortages and mitigate climate change but they need support from the private sector.

“Our aim is to help financial institutions see the growing and profitable demand for investments in renewable energy and provide the right products to support and encourage this.”