As much as 20% or more of Egypt’s energy could be solar: Consilio CEO

Egypt, which has suffered energy shortages in recent years that have led to frequent blackouts and contributed to a stagnant economy, is looking for alternative energy sources to meet growing pressures on power stations.

Coal, another fossil fuel, got the green light from the interim government in April to be used by certain industries to offset their dearth in energy. In the meantime, progress in utilising renewable energy has been slow, but steady.

In June, Minister of Industry and Foreign Trade Mounir Fakhry Abdel Nour announced that American solar energy firm, the Consilio Group, is planning to set up projects worth $100m. Like many officials before him, Abdel Nour reiterated that new and renewable energy is at the “top the government’s priorities”.

Daily News Egypt spoke with Consilio Group CEO Oliver Meissner to find more about this project, and other investments which the Consilio Group plans to set up in Egypt. Meissner explained that the plans have not been contracted and sealed with the government yet, and hence much of its details cannot yet be revealed. However, he voiced his optimism in the potential that lies beneath Egypt’s sun.