The Cabinet approved during a meeting on Wednesday the new renewable energy tariff.
Tourism Minister Hisham Zaazou made the remark during the closing session of Euromoney Egypt Conference.
Zaazou attended the conference on behalf of Prime Minister Ibrahim Mahlab.
In statements, Zaazou said that an agreement was reached to allow private sector companies to set up power stations.
He said that the government will buy the final product and all the details were discussed