Al Nowais Investments invests $1 Billion in Egyptian solar and wind projects
UAE-based Al Nowais Investments is putting $1 billion in two renewable energy plants in Egypt via its energy company AMEA Power. The plants will be ready in 2 to 3 years, the firm’s Chairman Hussain Al Nowais revealed.
UAE-based Al Nowais Investments is putting $1 billion in two renewable energy plants in Egypt via its energy company AMEA Power. The plants will be ready in 2 to 3 years, the firm's Chairman Hussain Al Nowais revealed.
More Headlines
- New York Car Dealership Enlists Energy Toolbase and Socomec for Microgrid-Capable Energy Storage System
- SOLATRUE MERGES WITH SOUTHERN SOLAR: PIONEERING BRANDS UNITE TO LEAD THE SOLAR INDUSTRY FORWARD
- Octopus Energy backs tech disruptor to turbocharge floating offshore wind farms globally
- TERREPOWER EXPANDS ITS TENNESSEE OPERATION, ESTABLISHES SOLAR RECYCLING LINE
- All Energy Solar Earns GAF Certification for Roofing
The first project consists of a solar plant in Southern Egypt, and the second consists of a wind farm on the Red Sea. Both have a capacity of 500 MW each, he told Asharq, on the sidelines of an Economic Forum held in Cairo.
The company is currently in primary *discussions* with the Egyptian government regarding investments to establish desalination plants in the country, Al Nowais added.
He also showed interest in investing in the green hydrogen sector in the African country.
Hussain Al Nowais declared that his company is currently arranging a consortium, including German, Japanese and Italian companies, to produce green ammonia that could be used as a clean fuel source, he said.
Egypt plans to increase its renewable energy to 10,000 in the second half of 2023, Minister of Electricity Mohamed Shaker said.
The country can produce 90 GW of electricity from wind and solar currently. More than 7,600 unused square kilometers have been allocated to renewable energy, he said.
Featured Product
HPS EnduraCoilTM Cast Resin Medium Voltage Transformer
HPS EnduraCoil is a high-performance cast resin transformer designed for many demanding and diverse applications while minimizing both installation and maintenance costs. Coils are formed with mineral-filled epoxy, reinforced with fiberglass and cast to provide complete void-free resin impregnation throughout the entire insulation system. HPS EnduraCoil complies with the new NRCan 2019 and DOE 2016 efficiency regulations and is approved by both UL and CSA standards. It is also seismic qualified per IBC 2012/ASCE 7-10/CBC 2013. Cast resin transformers are self-extinguishing in the unlikely event of fire, environmentally friendly and offer greater resistance to short circuits. HPS also offers wide range of accessories for transformer protection and monitoring requirements.
