Egyptian Electricity Holding Company (EEHC) and Terra Sola Consortium have signed a Memorandum of Understanding (MoU) for capacity building in solar energy.
EEHC is a joint stock company owned by the government of Egypt and Terra Sola Consortium comprises Terra Sola Ventures, a German-owned company headquartered in Bahrain that has been investing in specialised solar photovoltaic (PV) projects in the Middle East and North Africa (MENA) region, and Terra Nex Financial Engineering, a Swiss wealth management company which specializes in asset management and venture capital activities.
According to a press statement, Terra Sola Consortium plans to invest about $ 3.5 billion to develop and build an integrated project of up to 2,000 MWp solar PV capacity in various phases on a build-own-operate-transfer (BOOT) basis in Egypt.
The MoU also includes plans to build a PV module and an inverter factory. The document has laid out the roadmap for the development and implementation of the European-technology driven solar PV project specifically designed for Egypt.
Ajith Kumar S
editor@greentechlead.com
