Dubai – UAE-based AMEA Power has been hired to build a PV solar power plant and a wind farm in Egypt The total investment is estimated at $750 million. The announcement was made after AMEA Power completed negotiations with the Egyptian Electricity Transmission Company (EETC) on the purchase of 700 MW worth of electricity.
The photovoltaic power plant will be in the Kom Ombo region of Aswan, under the auspices of AMEA’s subsidiary Abyodos Solar Power Company (ASPC). The project is estimated at around $200 million and is expected to be completed in 2021 with an anticipated capacity of 200 MWp.
EETC will purchase electricity from this project for 15 cents per kWh. The wind farm project will be carried out by Amunet Wind Power Company (AWPC), another subsidiary of AMEA Power. The wind farm will be located in Jabal Al-Zayt, in the town of Ras Ghareb in the Gulf of Suez, and is expected to generate 500 MW. The EETC will pay 19 cents per kWh of electricity produced by this project. The project is expected to be completed by 2023.
AMEA Power will operate the solar plant for 25 years and the wind farm for 20 years, supplying electricity to 830,000 Egyptian households, providing nearly 2.9 GWh per year.
Following the signature of the power purchase agreement (PPA), AMEA Power’s Chairman, Hussain Al Nowais, said: “As we continue to expand our global presence, we are delighted to embark on these renewable energy projects in Egypt. We are thankful for all the support that we have received in the country, and we look forward to continuing to support Egypt in its drive to diversify its energy mix.” (AMEA Power is a subsidiary of Al Nowais Investments). (AB)