Acwa Power inks deal to construct 200MW Kom Ombo plant in Egypt
Once operational, the photovoltaic plant will cater to 130k households and offset 280k tonnes of CO2 per year
Saudi Arabia-based developer and investor Acwa Power has signed a power purchase agreement (PPA) with the government of Egypt to develop, finance, construct, and operate the 200MW Kom Ombo photovoltaic (PV) plant, which will cater to the power needs of 130k households and offset 280k tonnes of CO2 per year, once operational, with construction expected to be completed during Q1 2021.
The deal was inked by chief investment officer at Acwa Power, Rajit Nanda, and chairman of the Egyptian Electricity Transmission Company, Eng. Sabah Mashaly, under the patronage of Prime Minister of Egypt, HE Dr. Mostafa Madbouly; ambassador of the Kingdom of Saudi Arabia at Egypt, HE Osama Naqli; and Egyptian minister of electricity and renewable energy, Dr Mohamed Shaker.
Commenting on the agreement, Shaker 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.”
Sharing his thoughts on the deal, chief executive officer at Acwa Power, Paddy Padmanathan, said: “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 200MW of solar energy, but will also power the creation of jobs by propagating a green economy and nurturing a vibrant society.”
The construction and development of 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 2020.