Egypt seeks $2.5 billion to build desalination plants
Egypt is seeking partners to invest in a US $2.5 billion initiative to build renewable energy powered desalination plants by 2025, Bloomberg reported.
The news agency said that the Egyptian Sovereign Wealth Fund in partnership with a group of local and foreign investors, along with solar and other green plants, seek to build 17 new plants.
The 17 plants should be able to produce a combined 2.8 million cubic meters of desalinated water per day. Overall, 6.4 million cubic meters of daily capacity by 2050.
Around 8.6 percent of Egypt’s electricity comes from renewables, the country wants to raise that number to20 percent by 2022 to be doubled by 2035.
