• Add Company
    • Unites States
    • Canada
    • Australia
    • Europe
    • Asia
    • Latin America
    • Middle East & Africa
  • Add Job
  • Add Event
Solar Business Hub
  • Twitter
  • Facebook
  • Pinterest
  • Tumblr
  • Instagram
  • Mail
  • Rss
  • HOME
  • SOLAR COMPANIES DIRECTORY
    • FIND SOLAR COMPANIES
    • LIST YOUR SOLAR COMPANY
  • SOLAR EVENTS DIRECTORY
    • FIND SOLAR EVENT
    • LIST YOUR EVENT
  • JOBS
  • NEWSROOM
    • SOLAR INDUSTRY NEWS
    • SOLAR PRESS RELEASES
    • MARKET INSIGHTS
    • SUBMIT PRESS RELEASE
  • RESOURCES
  • CONTACT
    • ABOUT US
  • Search
  • Menu Menu

ACWA Power signs PPA with Egypt for 200 MW Kom Ombo PV plant

November 13, 2019/in Projects /by Solar Business Hub

ACWA Power, a leading international developer and operator of power generation and water desalination facilities from Saudi Arabia, announced it has signed a Power Purchase Agreement (PPA) with the Government of Egypt to develop, finance, construct and operate the Kom Ombo photovoltaic plant, which will yield a capacity of 200 MW.

The signing took place under the patronage of His Excellency Dr. Mostafa Madbouly, Prime Minister of Egypt; His Excellency Osama Naqli, the Ambassador of the Kingdom of Saudi Arabia at Egypt; and Dr. Mohamed Shaker, Egyptian Minister of Electricity and Renewable Energy.

The PPA was signed by Rajit Nanda, Chief Investment Officer at ACWA Power, and Eng. Sabah Mashaly, Chairman of the Egyptian Electricity Transmission Company, in the presence of senior executives from ACWA Power and delegates from the Egyptian Ministry of Electricity and Renewable Energy.

Construction is expected to be completed during the first quarter of 2021. Once operational, the plant will cater to the power needs of 130 thousand households, in addition to offsetting 280 thousand tons of carbon dioxide per year.

Dr. Mohamed Shaker, Minister of Electricity and Renewable Energy – Egypt said:

“The signing of today’s project is a crucial building block that contributes to the Egyptian government’s vision – which aims to upscale sustainable energy security by moulding a balanced energy mix. In reflection of HH Abdel Fattah El-Sisi, President of the Arab Republic of Egypt, and the overall government’s ambitious vision, we are keen to leverage renewable energy sources through transparent competitive procurement, which will cater to the country’s current clean energy needs while simultaneously safeguarding our future. The lowest tariff contracted to date for a solar energy in North Africa is not only a reflection of continuing improvement in technology and the entrepreneurship of the developer ACWA Power, but also of the attractiveness of Egypt as an investment destination and the trade and commercial environment of Egypt to enable facilities of this nature to be financed, constructed and operated efficiently.”

Paddy Padmanathan, Chief Executive Officer of ACWA Power said:

“The Egyptian government has long recognised renewable energy as a safe and secure source of power to reliably provide electricity to its citizens while advancing their efforts in reducing carbon emissions. The Kom Ombo project that we are embarking upon today is a very strong testament to ACWA Power’s commitment to contribute to this mission. ACWA Power works alongside its partners to deploy the most up-to-date technologies and leverage sound investment opportunities to continue reducing the cost of generating renewable energy, which is one of the key pillars in driving sustainable economic development of a country. As a Saudi company, we are particularly proud of this partnership with our brothers and neighbours that will accelerate the deployment of clean energy, and contribute to the social and economic development of the Arab Republic of Egypt. This investment will not only generate 200 megawatts of solar energy, but will also power the creation of jobs by propagating a green economy and nurturing a vibrant society.”

Rajit Nanda, Chief Investment Officer of ACWA Power said:

“We commenced our operations in Egypt through the launch of the Benban PV IPP project, and we are currently in discussions with the Egyptian Ministry of Electricity to finalise agreements for the 2250 MW Dairut CCGT, with an investment value of 2.3 billion U.S. dollars. Today, through the deployment of the Kom Ombo Plant, we are further branching our commendable trail in Egypt. Moreover, this clean energy project embodies the extension of our investments in the renewable sector in the continent, particularly in the North African region, which is witnessing a rapid growth in renewable energy projects.”

The construction and development of new PV plants in Egypt bolsters the efforts of the Ministry of Electricity and Renewable Energy to increase the overall capacity of renewable energy to 20% by the year 2020.


Source: Press Release by ACWA Power. Photo credit: ACWA Power.

Tags: ACWA Power, Egypt, solar PV
You might also like
Associated British Ports invests over £1M on a rooftop solar project at UK’s Port of Goole
Hrvatska Elektroprivreda commissions largest solar PV plant in Croatia
South Africa Launches R5 Billion Concentrated Solar Power Plant
Yellow Door Energy commissions solar plant at Le Chocolat and Greenhouse Foodstuff Trading facility in Dubai
Asian Development Bank to help build 100MW solar park in Cambodia
Lightsource BP to develop 130MW solar PV project in Alabama

NEWSLETTER

Subscribe to our Newsletter & Stay Updated with the Latest Solar Industry News and Upcoming Events.
Solar PV World Expo (PV Guangzhou) 2021

Find Solar Companies

  • United States
  • Canada
  • Europe
  • Australia
  • Middle East & Africa
  • Latin America
  • Asia

Add Solar Company

  • United States
  • Canada
  • Europe
  • Australia
  • Middle East & Africa
  • Latin America
  • Asia

Solar Industry Events

  • Find Solar Industry Events
  • Post Solar Industry Events

Solar Industry Resources

  • Solar Industry Reports
  • Solar Research Centers
  • Solar Energy Glossary
  • Solar Associations

Latest Solar News

  • Solar Industry News
  • Solar Industry Press Releases
  • Submit Press Release
  • Newsletter

Solar Industry Job Board

  • Find Solar Jobs
  • Post Solar Jobs
© Solar Business Hub is a trading name of Solstice Media, Ltd. Incorporated in England & Wales. Registration No. 09696369.
  • Twitter
  • Facebook
  • Pinterest
  • Tumblr
  • Instagram
  • Mail
  • Rss
  • Home
  • About
  • Terms
  • Contact
  • RSS Feed
GP-Joule to build Alberta’s first merchant solar project Solaria to install 626 MW solar PV plant in Guadalajara, Spain
Scroll to top