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NTPC to invest in solar energy in Egypt - Daily News Egypt

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NTPC to invest in solar energy in Egypt

Egyptian market stable, attractive for investment, says NTPC’s GM

The National Thermal Power Corporation (NTPC) General Manager, Ananda Kumar Gupta, said that he held a meeting with the Head of the New and Renewable Energy Authority (NREA), Mohamed El-Khayat, to discuss the implementation of solar energy projects in Egypt and to fund long-term investments either through cooperating with the Egyptian government or through competitive bidding.

He said that the company is ready to implement projects in Egypt with considerable capabilities and investments according to various contractual systems, and seeks to exchange experiences and train workers on energy projects from various sources.

Furthermore, Gupta added that the Egyptian market is stable and attractive for investment, especially in view of the available legislation and regulations governing project implementation.

The NPTC signed a memorandum of cooperation with the Egyptian Company for Mechanical and Electrical Projects (Kahromika) on Saturday to carry out maintenance works for power stations in Egypt, the Middle East, and Africa.

The cooperation with the Indian company provides maintenance services for power plants and the upgrading of old stations with a future programme to transfer technology and expertise in order to replace and manufacture the parts used during the maintenance, replacement, and renewal operations, according to Kahromika’s Chairperson, Sherif El-Sheikh.

In response to a question by Daily News Egypt, El-Sheikh said that Kahromika and the NTPC are aiming to maintain all electrical capabilities, and will hold a meeting with the electricity ministry to discuss the capacity to be maintained. The target is to carry out the maintenance operations by an Egyptian company in the future, as well as to send units or parts which are technically flawed overseas for repair in workshops, factories, and specialised companies.

He added that Kahromika aims to enter the Jordanian and Omani markets during the coming period.

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