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Eni agrees renewables energy deal with Egypt
September 29, 2016 / 11:22 AM / a year ago

Eni agrees renewables energy deal with Egypt

MILAN, Sept 29 (Reuters) -

* Italian oil major Eni has agreed a common strategy with Egypt to build renewable energy projects in the country, the company said on Thursday.

* The first project will be a solar plant in Sinai with a maximum output of 50 megawatts. Construction is expected to be sanctioned next week and completed by the end of 2017.

* The project is part of Eni’s push into green energy, with the aim of bringing 420 megawatts of mostly solar power generation online by 2022.

* Eni, the owner of the massive Zohr gas field expected to start production next year, currently produces about 210,000 barrels of oil equivalent per day in Egypt.

Reporting by Stephen Jewkes; Editing by David Goodman

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