Lebanon Businessnews News

Phoenix Energy to
build solar farm in Egypt
Project installation of 200,000 solar panels
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Phoenix Energy, a subsidiary of Indevco Group, has signed a contract with the Egyptian Government to build a solar power farm near Luxor and Aswan.

Rabih Osta, Area General Manager at Phoenix Energy, said: “We will install around 200,000 solar panels on a land area of 1.1 million square meters, to produce a 62 megawatt peak.”

The electricity production will be sold to Egypt for $16 million, yearly, at a price of 14.35 cents per kilowatt hour.

Phoenix Energy is one of 40 companies working on the project and the only Lebanese company to qualify.

“We are in the process of collecting offers from various manufacturers and importers of solar panels,” Osta said.

Construction is expected to start in November 2016.
Reported by Yassmine Alieh
Date Posted: Jan 29, 2016
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