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ACWA Power invests EGP 20 million in three renewable energy projects

Posted: July 14, 2016 at 3:50 pm   /   by   /   comments (0)

acwaSaudi’s ACWA Power has invested EGP 20 mn in three renewable energy projects in Egypt under the feed-in-tariff system, Regional Director Hassan Amin told Al Mal.

The projects include two wind farms and a solar power plant each with a capacity of 50 MW, he added, and are located in Benban and Ras Gharib.

The investment was divided into EGP 18 mn towards splitting the EGP 40 mn cost of connecting the solar power plant to the national grid with the NREA, and EGP 2 mn towards studies and taxes on the wind farms, he said.