ACWA Power
All necessary studies for the project have been finalized. The signing of the final contracts is anticipated by the close of 2024 to pave the way for project commencement.
The project agreement with the Egyptian Electricity Transmission Company spans 25 years and involves a total investment cost of SR 611 million.
ACWA Power's investments in Egypt amount to about $2 billion, distributed among solar and wind energy stations, with plans to inject new investments into water desalination projects.
The project is expected to generate approximately 50,000 gigawatt-hours of renewable energy upon completion, reducing annual carbon dioxide emissions by 2.4 million tons and supplying electricity to around 11 million residential units.
ACWA Power is interested in investing in Egypt in two promising fields: the first is water desalination and producing green hydrogen.
The EBRD said in a statement that the development of the Kom Ombo solar power plant would add 200 megawatts of energy and enhance the private sector’s participation in the Egyptian energy sector.
Power and desalination company, ACWA Power on Friday raised LE 5.5 million ($349,286) to pay for ventilators for coronavirus patients, as part of the national efforts to curb the spread of the novel virus.
Well-informed sources told a local newspaper that the total cost of the gas pipeline amounted to LE 1.6 billion.
The three plants will reduce carbon dioxide emissions by 156,000 tons per year, secure power supplies to 80,000 households.
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