The U.S. Consilio Group Company, specialized in the field of solar energy, plans to invest $ 100 million in the implementation of several projects in Egypt. According to Oliver Meissner, who chairs the group, the country has a great potential for solar energy especially in isolated areas of Upper Egypt and could easily emerge as the world leader in this field.
Consilio also studied the ability to generate 300 MV annually over a period of 25 years through various projects it intends to implement in the country.
On the part of the Egyptian leaders, the investment project has been well received, according to Egypt Daily News.
According to the Egyptian Minister of Industry and Foreign Trade, renewable energy is a key priority of the government. He emphasized the importance of Consilio Group’s at a time when the country has witnessed over the past three years, electricity cuts, due to a shortage of natural gas.