UAE-based Masdar has revealed plans to invest in a US$580mn wind project in Egypt
According to Egyptian newspaper Daily News Egypt, the project will cost approximately US$580mn, although the figure can alter later. The exact figure has not yet been confirmed.
Egypt?s Energy Research Center head Mohamed El-Sobky said that the project represented a ?milestone? in Egypt?s renewable energy sector, despite the vague details.
?We hear of great projects all the time, but investments often become questionable. But this project looks promising as it is well-promoted,? he said.
The Energy Research Center head added that the Egyptian renewable energy sector was currently facing legislation issues, particularly in terms of investments in the industry.
