Hussein Al Nowis, Chairman of the Board of Directors of Al Nowis Investment Company, confirmed that the company is operating in 15 countries, the largest of which is Egypt, where it produces 1,000 megawatts from one solar energy project and another for wind energy.
In an interview with Al Arabiya on the sidelines of the activities of the second day of the World Economic Forum “Davos”, Al Nowais added that the company’s business – based in the United Arab Emirates – focuses on the Middle East and Africa in Egypt, Morocco, Tunisia, Jordan, Togo, Ivory Coast, Uganda, Ethiopia and Kenya.
He said the African continent needs energy and has good resources in terms of wind or solar energy.
He said the cost of solar power generation was 5-8 cents per watt before recent inflationary pressures.
He revealed that the challenges of African countries are concentrated in transport, stressing that energy transmission networks cannot withstand large volumes.
He pointed out that the company is working on a solar energy project in Egypt with a capacity of 500 megawatts, and another for wind power with the same capacity, thanks to the excellent transmission lines, adding that the tariff in Egypt is 3 cents per watt.
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