Globaleq, Egyptian gov’t selecting lands for Aswan solar energy stations

12 / 07 / 2023

By Marwa Nassar - -

Regional Head of Globaleq Solar Energy Company Ghada Darwish said the company is holding discussions with the Egyptian government for selecting lands upon which solar stations will be set up in the Upper Egypt governorate of Aswan in the coming period.

She made the remarks during the 5th Forum on Strategies for Transition to Green Economy which is organized by CSR Egypt under the theme of Green DNA “Sustainable Finance and Impact Investment”.

Despite challenges, Globaleq decided to start a green hydrogen project and signed agreements with partners at the 27th United Nations Climate Change Conference (COP27), she said.

She noted that green hydrogen projects are at limelight in the current period, adding that the Egyptian government spent a package of incentives on green hydrogen, thus facilitating the accomplishment of projects in this domain.

Egypt is competing with Malaysia, Chile, South Africa, Oman and Saudi Arabian in launching green hydrogen projects, she said.

She expounded that businessmen were encouraged to invest in Egypt due to its location which is close to the European market, adding that Egypt recorded the highest level of sunshine worldwide in addition to having speedy wind in Eastern and Western Deserts and several other areas.

She noted that there are several factors affecting solar energy projects as small investors kept aloof from these projects due to high prices of solar cells.