- First-ever solar energy-powered wholesale market comes online in Egypt
- The project is part of the EU-financed MAIA-TAQA pilot project to promote solar cooling applications in south MED countries.
The government of Egypt has launched the first-ever energy-powered wholesale market project in Alexandria. The project is part of the European Union financed Mobilizing new Areas of Investments And Together Aiming to increase Quality of life for All (MAIA-TAQA) pilot project that promotes solar cooling applications in south MED countries.
The project includes a solar photovoltaic unit with a capacity of 100kW, which is sufficient to cover the entire market’s energy needs and is linked to the unified grid to sell the surplus generated energy.
In a statement released following the launch ceremony, Egypt’s Minister of International Cooperation, Rania Al-Mashat, praised the close cooperation between Egypt and the development partners of the European Union for supporting the country’s efforts to shift towards a green economy. The step comes as the government intensifies joint work with partners in the preparations to host the 27th edition of the UN Climate Change Conference (COP27) by the end of 2022, the minister added.
Since 2014, the Egyptian government has been working on expanding renewable energy sources to ensure energy security. It also partnered with development banks to attract private investments in the renewable energy sector.