On November 30, Japan International Cooperation Agency (JICA) signed a project finance loan agreement with Abydos Solar Power Company SAE of the Arab Republic of Egypt for the Kom Ombo solar power project. The project will be co-financed with the International Finance Corporation (IFC).
Egypt has been aggressively increasing its power generation capacity, mainly thermal power generation, to meet the growth in electricity demand driven by economic growth. Currently, thermal power generation accounts for 90% of Egypt’s power supply, and hydropower and renewable energy sources each account for only 5%, leaving the country dependent on fossil fuels. Under these circumstances, the Egyptian government has set a policy to significantly increase the share of renewable energy in the future in order to reduce the environmental burden, utilize Egypt’s abundant solar radiation, and expand the country’s energy sustainability, making the diversification of power sources, especially renewable energy, an urgent issue for Egypt.
This project aims to increase electricity supply from renewable energy sources by constructing and operating a 500 MW solar power plant in Kom Ombo, Aswan Governorate, Southern Egypt, thereby contributing to the fight against climate change by reducing CO2 emissions in Egypt, and contributing to SDG Goal 7 (Energy for All and Clean), Goal 13 (Tangible Action on Climate Change), and Goal 17 (Let’s Achieve the Goal through Partnership). and clean energy for all), Goal 13 (take concrete measures against climate change), and Goal 17 (achieve the goals through partnerships).
© Source JICA