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Canadian Solar Firm Signs US$5-Billion Deal in Egypt

Toronto-based SkyPower Global has signed on to a US$5-billion deal to build 3,000 MW of utility-scale solar in Egypt.

“The availability of energy and managing the demand for it is one of the main priorities on the Egyptian development agenda,” Egyptian President Abdel Fattah Al-Sisi.

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“The signing of this monumental agreement demonstrates the shared passionate aspirations of global partnerships that will substantially impact the country’s GDP, contributing approximately US$16.1 billion, resulting in increased opportunities for employment, skills training, youth and education,” said SkyPower President and CEO Kerry Adler.

The contract, a partnership between SkyPower and infrastructure engineering firm International Gulf Development, is expected to “create 75,000 total job years,” SkyPower said, and add 600 MW of solar fabrication and manufacturing capacity in Egypt.

Canada’s ambassador to Egypt, Troy Lulashnyk, called the agreement a “significant milestone” for international business.

(Curator’s note: By the time the first phase of the project opens late this year, will imprisoned Egyptian-Canadian journalist Mohamed Fahmy [2] be free to report the story?)