Skip to content
Menu
Konrad News
  • Home
  • About
  • Contact
  • Privacy Policy
  • Affiliate Disclosure
Konrad News

Signing of loan agreement for “Kom Ombo Solar Power Project” in Egypt (Overseas Investment and Loan): Contributing to climate change mitigation through a 500 MW renewable energy project

Posted on 2022-12-02 by Editor in Chief

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 growing demand for electricity against the backdrop of 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, take advantage of 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).

Egypt hosted the 27th Conference of the Parties (COP27) to the United Nations Framework Convention on Climate Change in November 2022. At the conference, against the backdrop of serious damage caused by extreme weather events in various parts of the world, each country called for the need for measures to reduce greenhouse gas emissions, and some developed countries expressed their support. This project is JICA’s first contribution to the reduction of greenhouse gas emissions as a result of the outcome of the conference in Egypt, the host country, and demonstrates JICA’s strong commitment to climate change measures in Egypt. The project is also a major component of the Energy Program of the Nexus of Water, Food and Energy (NWFE), an initiative of the Egyptian government at COP27 to promote climate change action in the country.

JICA has been supporting the Egyptian power sector in various aspects through yen loans and technical cooperation projects, including the development and management of power supply, transmission, and distribution networks covering the Upper Egypt region, and support for improving the rehabilitation of the power sector, strengthening financial sustainability, and promoting governance reform. Building on this support, this project will support the Egyptian power sector by boosting renewable energy projects financed by the private sector.

read more

© Source JICA

Auto Amazon Links: No products found.

Auto Amazon Links: No products found.

Share this:

  • Click to share on X (Opens in new window) X
  • Click to share on Facebook (Opens in new window) Facebook
  • Click to share on WhatsApp (Opens in new window) WhatsApp
  • Click to share on LinkedIn (Opens in new window) LinkedIn
  • Click to share on Pocket (Opens in new window) Pocket
  • Click to share on Telegram (Opens in new window) Telegram
JICA
JICA contributions

Leave a Reply Cancel reply

You must be logged in to post a comment.

Auto Amazon Links: No products found.

Recent Posts

  • Logos “Hyper Subzero Cooler” for six 500-mL PET bottles. Stores ice cream for about 12 hours when used with refrigerant.
  • Up to 20% off CIO Mate’s magnetically clasped charging cables and USB chargers
  • Hotel New Otani Tokyo, “Jingu Gaien Fireworks Festival” Viewing Plan. Enjoy the pool with early check-in.
  • Unlimited Ride Digital Ticket for Tokyu Lines and Tokyu Buses is half price. Save on the Minato Mirai Line, too!
  • Mitsui Shopping Park LaLaport TOKYO-BAY” North Building Phase I will open in October. Details of 94 stores, including one of the largest food zones in Chiba Prefecture, to be announced.

Recent Comments

No comments to show.

Archives

  • June 2025
  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022

Categories

  • business
  • investment
  • Japan
  • JICA contributions
  • Kyoto Prefecture
  • market
  • technology
  • travelling
  • Uncategorized
©2025 Konrad News | Powered by WordPress & Superb Themes