Egypt's Minister of Electricity, Hassan Younis, said that a ministerial committee has been formed to find a mechanism to finance the fund of the renewed energy support. He added that the committee will be headed by the deputy prime minister. Younis said that the decision came in the framework of a series of decisions issued by the High Council of Energy to confront the obstacles which face the projects of the renewed energy. He clarified that the fund aims at covering the losses resulted from difference between the cost of production and the price of the consumption, adding that such losses are a main obstacle to the execution of these projects. He said that the ministry studies the international experiences to provide an additional finance to the fund. He added that the High Council of Energy also took a number of decisions aiming at providing the land to the investors in return for an annually percentage of the energy. Younis said that the government supports the private sector with a number of measures and incentives to support the investments such as buying the produced energy for 25 years and paving the way for the investors to benefit from the advantages of reducing the emissions
