Scatec's Benban solar PV projects

Egyptian renewable energy investors push ahead with projects despite currency fears

Issue 484 - 11 May 2023 - By John Hamilton | 4 minute read

Amid the worst economic crisis since the Mubarak regime’s collapse in 2011 – highlighted by another credit downgrade in early May – foreign investors in Egypt are struggling to convert their local profits into hard currency.

But even in this tough business environment some investors and financiers are signing up to major new renewable energy commitments, suggesting the prospects for profit and strategic positioning still outweigh the risks from dysfunction.

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