Ongoing preparations for a tender for the construction of a solar power plant for Misr Aluminum Company in Naga Hammadi within two months, According to Egypt’s Ministry of Public Business Sector.
The ministry statement said that it is currently in talks with the Ministry of Electricity on the establishment of a 600 MW solar power plant for Misr Aluminum Company in Naga Hammadi.
Misr Aluminum Company relies on electricity as a major component in the production process, as electricity represents 40% of the cost of production, making it an effective factor in calculating cost and profits. The total expected cost during the current fiscal year is about LE 5 billion or about USD 300 million.
In November, Misr Aluminum invited international companies to bid for the construction of a 300 MW solar power plant through a 25-year power purchase agreement. This will save part of the energy the factory consumes from the national network.
