Bahrain firm offers $3.5bn solar investment in Egypt

CAIRO, 0 hours, 55 minutes
ago

Terra Sola, a Bahrain-based investor and developer of solar power projects in the Mena region, has proposed to invest $3.5 billion in Egypt in a project aiming to develop solar photovoltaic technology, a report said.

Prime Minister Ibrahim Mehleb recently met Terra Sola Group chairman David Heimhofer to discuss the project, added the Daily News Egypt report, citing a cabinet statement.

The project will generate annual revenues of $760 million in addition to creating 20,000 jobs in the first year of operation, Heimhofer was quoted as saying.

Mehleb said the government will form a committee to study several proposals in the solar energy field from international companies.