The Egyptian Businessmen Association (EBA) established a society for investors in the fields of new and renewable energy in Egypt.

The new society included all companies and consortiums that recently signed contracts with the Ministry of Electricity to generate some 4200 megawatts.

EBA Chief Executive Officer Mohamed Youssef said Wednesday the establishment of the new society came to meet the recommendations of an energy conference, held by EBA in February.

The target of setting up the society is to stabilize an entity that groups all companies working in the field of renewable energy, defend their interests and find new investment opportunities for them, Youssef added.

The new society is planning to sign a number of joint protocols with a number of business organizations, including one with the Middle East Solar Industry Association (MESIA), he said.