ACWA Power is set to finalize the construction of a 200-MW Kom Ombo solar project in Egypt by April, as per the announcement by Egypt’s Prime Minister Mostafa Madbouly during his recent tour in the Aswan Governorate.
As per reports, the Kom Ombo solar project, costing approximately USD 182 million (EUR 167.1m), attained financial closure in August 2023. Once operational, Kom Ombo is expected to provide electricity to 130,000 households and reduce carbon dioxide emissions by 280,000 tonnes annually.
It may be noted that in April 2021 ACWA Power 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.
In addition to the Kom Ombo solar initiative, ACWA Power is actively engaged in other significant projects in Egypt. The company is in the planning stages for a 10-GW wind project and a USD 4-billion (EUR 3.67bn) green ammonia project within the Suez Canal Economic Zone. In January, ACWA Power entered into an agreement with the Egyptian government for the development of a 1.1-GW wind project in the Gulf of Suez and Jabal El-Zeit. The wind project is expected to significantly contribute to Egypt’s renewable energy targets and reduce its dependence on conventional power sources.
ACWA Power’s contributions are poised to play a pivotal role in shaping a cleaner and more sustainable energy future for Egypt.