Eni and Egyptian authorities signed a common strategy to implement clean energy projects to promote a more sustainable energy mix in the country, the company announced on Thursday.
According to the announcement, the implementation of renewable energy projects in the country will allow for a reduction in the use of natural gas in electricity generation.
"The gas made available through these projects could be used to expand the utilization of CNG (Compressed Natural Gas) as fuel in the automotive sector, as an alternative to diesel or gasoline, thus generating a low-carbon cycle based on a gas-renewable energy mix," the statement read.
The first project, a 50 MW photovoltaic (PV) plant in Sinai, near Abu Rudeis Facilities, will be implemented with a fast track schedule through Petrobel, an equal joint venture between subsidiary of Eni, IEOC production B.V., and state company Egyptian General Petroleum Corporation (EGPC).
The plant will be sanctioned in October and completed by December 2017.
Italian Eni has been operational in Egypt for over 60 years in the gas sector, from production to utilization, including export facilities.
Eni's new positioning in the renewable sector will allow the company to maximize the gas value chain in the country.
By Gulsen Cagatay
Anadolu Agency
gulsen.cagatay@aa.com.tr