The Embassy stated that Ambassador Fumio Iwai recently
attended the signing ceremony to commence construction of a solar power plant
in Hurghada, held at the Ministry of Electricity and Renewable Energy.
The Embassy shared a photo of the signing ceremony, attended
by Engineer Mahmoud Esmat, Minister of Electricity and Renewable Energy, alongside
the Japanese delegation.
According to the agreement, the Hurghada solar power project
will be developed with financing from a long-term, low-interest concessional
loan in Japanese yen.
The Embassy added that the Japanese company Yurtec
Corporation will represent the consortium responsible for construction.
It noted that Egypt aims to generate 42% of its domestic
electricity from clean energy sources, including solar, wind, and nuclear
power, by 2030.
The Embassy emphasized that the Hurghada solar power
project, funded by the concessional Japanese yen loan, represents a significant
step toward achieving Egypt’s renewable energy goals.