Saudi company Acwa Power to invest $12bn in Egypt

In September 2014, the government announced a new feed-in tariff for new and renewable energy. Out of 187 offers, 136 Egyptian and international companies qualified to implement solar or wind power energy production plants.

The Ministry of Electricity and Renewable Energy has plans to establish solar and wind power plants with a capacity of 4,200MW with investments worth $7.5bn, according to the feed-in tariff. It also plans to produce 20% of the total produced electricity from new and renewable energy sources by 2020.

Thirteen solar energy plants will be established with capacities 20MW or less. Eighty-seven companies were chosen to establish solar power plants with capacities of 20 to 50MW and 36 other companies were chosen to establish wind power plants with a capacity of more than 20 MW.

Saudi company Acwa Power intends to invest $12bn in the Egyptian market over five years. Daily News Egypt met with the company’s regional director Hassan Amin to discuss the future plans in Egypt.

What are Acwa Power’s projects in Egypt?

The projects Acwa Power intends to implement include Dayrout power plant which will have a 2,250 MW capacity, as well as three solar and wind plants with a 150 MW capacity factor. The company intends to activate the memoranda of understanding (MOU) that were signed at the Economic Development Conference to establish a power plant fuelled by coal, while the competitive tenders are to establish renewable energy plants in the western Nile area.