ACWA Power signs final project agreements on Kom Ombo PV plant

SourceSaudi Gazette
SectorReal Estate
CountrySaudi Arabia

RIYADH, KSA — ACWA Power, a leading Saudi developer, investor and operator of power generation and desalinated water plants in 13 markets, has finalised the project agreements for the 200MW Kom Ombo PV plant in Egypt.The signing of the 25-year Power Purchase Agreement (PPA), Network Connection Contract and Usufruct Agreement was conducted via a virtual ceremony held with senior government officials and representatives from the Egyptian Electricity Transmission Company (EETC); The New and Renewable Energy Authority (NREA), and ACWA Power.The agreements were signed by Eng. Sabah Mashaly, chairman of EETC; Dr. Mohamed Al-KHayat, chairman of NREA; Rajit Nanda, chief portfolio management officer and acting CIO of ACWA Power; and Eng. Hassan Amin, country development director- Egypt, ACWA Power.Egypt’s Minister of Electricity and Renewable Energy Dr.

Mohamed Shaker El Markabi commented: “Egypt is home to a wide range of untapped renewable resources particularly, wind and solar energy. The electrical capacities that can be generated from renewable sources can reach up to nearly 90 GW. In line with Egypt’s Integrated Sustainable Energy Strategy, our more...