Power purchase agreement signed for PV plant in Egypt
Published: 31 October 2019 - Carly Wills
ACWA Power 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 200MW.
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 130,000 households, in addition to offsetting 280,000 tons of carbon dioxide per year.
“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,” said Dr. Mohamed Shaker, minister of Electricity and Renewable Energy – Egypt. “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 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 per cent by the year 2020.