Saudi ACWA Power signs agreements for solar plants in Aswan

CAIRO – 8 August 2017: Saudi Arabia’s ACWA Power signed Monday Power Purchase Agreements for three 120MW solar power plants planned by the company under the Feed-in-Tariff (FiT) scheme.

The signing was attended by Prime Minister Sherif Ismail, Minister of Investment Sahar Nasr, Minister of Electricity Mohamed Shaker, Chairman of ACWA Power Mohammad A. Abunayyan and Head of the Egyptian Electricity Holding Company (EEHC) Gamal Abdel Rahim.

Located in Benban area in northern Aswan, the agreement allows ACWA Power to develop, build, finance, own and operate three solar plants with a total capacity of 120MW.
The three plants will reduce carbon dioxide emissions by 156,000 tons per year, secure power supplies to 80,000 households, Shaker said in the statement.

Construction works of the plants will be finished by the fourth quarter of 2018.