UK invests more than EGP 1.7 bn in Benban project in Egypt

British Ambassador to Egypt John Casson said he is proud that his country is investing in Benban solar energy which would provide energy for more than 350,000 persons and create more than 6,000 job opportunities. 

In a press statement released on Monday, the ambassador said his country is committed to supporting Egypt as a partner in a new wave of investments that would help the future of the coming generations.

He said CDC Group, a British financial development institution, has investments of around dollars 97 million in Benban solar energy project, which will be the biggest solar energy worldwide upon its completion.

UK investments in the project would support the generation of 400 megawatts of the renewable energy which constitutes more than 20 percent of the total production capacity of the whole project.

CDC Group's financial package is part of the mega project of Benban whose total cost is estimated at dlrs 653 million. CDC group investments would help the establishment of 13 solar stations included in the mega project funded by the International Financial Corporation that will include 32 solar energy stations in Aswan city and is expected to produce 1.8 GW energy.