(MENAFN) Egyptian Ministry of Electricity and Renewable Energy signed USD21.2 billion deals with some international companies to develop its electricity network and build new power plants, Saudi Gazette reported.
The ministry signed with Saudi ACWA Power Corporation and UAE Masdar Corporate a USD9.4 billion MoU to build power plants working with solar and coal sources.
The MoU signed with both ACWA Power and Masdar Corporate aims at building combined a power plant with 2,200 megawatt in western Damietta and number of solar power stations in certain places.
The second USD7 billion agreement was signed with ACWA Power to build a coal-operated power plant with 2,000 megawatt and could be expanded to produce 4,000 megawatt.
Egypt also signed a USD10 billion deal with the German Minister for Economic Affairs and Energy. In addition, he signed a USD1.8 billion agreement with the State Grid Corporation of China to develop an electricity transfer network.
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