Tuesday 16th March, 12:13 AM JST
CAIRO —
Japan has decided to provide up to 38.86 billion yen in loans to help Egypt finance a project to build one of the world’s largest wind farms, Japanese officials said Monday. Japanese Ambassador to Egypt Kaoru Ishikawa and Egyptian International Cooperation Minister Fayza Aboulnaga signed a document formalizing the loan program in the suburbs of Cairo the same day.
The loans, with an annual interest rate of 0.3% and a redemption period of 40 years, will help to build a 220-megawatt wind farm in the Gulf of el-Zayt on the Red Sea by 2015. It is Japan’s largest foreign aid program for a wind power project. Egypt is aiming to generate 20% of its power from wind and other renewable energy sources by 2020 as part of efforts to combat global warming.
Source: http://www.japantoday.com/category/technology/view/japan-offers-y389-bil-in-loans-for-wind-power-project-in-egypt
Comments
Post a Comment