CAIRO, Dec. 18 (Xinhua) -- The Egyptian cabinet granted Wednesday a United Arab Emirates (UAE)-based renewable energy company the "Golden License" to build an 850-million-U.S. dollar photovoltaic (PV) power generation project in Upper Egypt's province of Aswan.
The project, to be built by Abydos for Renewable Energy, a subsidiary of the AMEA Power, will cover an area of 20 square km in New Benban, Aswan, and is planned to generate 1,000 megawatts (MW) of electricity with a 600-MW/hour energy storage system, the Egyptian cabinet said in a statement.
The Golden License is an all-inclusive approval provided by the Egyptian government for the establishment, operation, and management of a project, including building permits and the allocation of the necessary properties.
The cabinet's approval came a few days after Egyptian Prime Minister Mostafa Madbouly inaugurated the Abydos 1 Solar PV Park in Kom Ombo, Aswan, with a 500-MW capacity capable of powering some 256,000 homes.
