With a total capacity of 750MW, total funding for solar energy projects amounts to $500 million.
By 2025, around 37.2 percent of Egypt's power will be generated from renewable energy resources, Shaker noted.
A number of 32 solar developers have expressed interest in taking part in the FiT second round, NREA chairman says.
Renewable energy resources will see robust growth over the coming few years as several countries started to shift to clean energy.
Solar plants at Benban city of Aswan might be seen operating in 2018 as international financial institutions agreed to finance developers of FiT second round.
First two 50MW solar plants under the second round of the FiT have secured finance from the EBRD at $116 million.
The three plants will reduce carbon dioxide emissions by 156,000 tons per year, secure power supplies to 80,000 households.