ENGIE to invest $490 million in two solar and wind energy projects

engieENGIE, the French energy company, is planning to set up two plants for generating  power from sun and wind in Egypt, with $ 490 million investments, according to the company’s Regional Director for North Africa Amin Homan Lodi.

Lodi told Al-Mal newspaper that the 110 million dollars first plant is due to be completed in 2017, while the 380 million dollars second in 2018.

He assured his company’s desire to compete for the creation of stations to be put up by Egyptian government for generating new and renewable energy in Suez Canal province and administrative capital.

He pointed out that the company intends to establish a new office in Cairo within weeks to organize its work in Egypt and the North African countries, describing the Suez Canal province development as an amazing project.

He further noted that power stations to be implemented will offer a lot of work as well as providing real development opportunities.

(Source: Al-Mal News)

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