Egypt plans to attract USD110 billion in energy sector investments by 2027, from both private and public sector investments, according to Egypt's electricity minister, Hassan Younes. The Ministry also plans to add 120 megawatts (MW) to its current 430 MW of wind energy by June 2010, and an average of 400 MW per year thereafter, with wind farms built on allocated land in the south of Egypt along the Red Sea coast. Wind energy investment in Egypt has received considerable interest from local and international companies, highlighted by the release of the short-list for Egypt's first private wind farm (250 MW in Zaafaran) for which there were 34 bids. Younes added that Egypt also had strong solar energy potential due to its low rain and clouds and year-round sun. Egypt aims to source 20% of its electricity from renewable energy by 2020.
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