ACWA Power – a leading international developer and operator of power generation and water desalination facilities from Saudi Arabia – signs 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: “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”.