FAS Energy, a renewable energy company affiliated to Saudi Arabia’s Fawaz Al Hokair Group, has signed a memorandum of understanding with the Ministry of Housing, represented by the New Urban Communities Authority, for the construction of a plant to convert waste into electrical energy.
The plant, which is planned to be built in the coming months, is estimated at about $ 500 million and has a capacity of 100 MW.
FAS Energy is also preparing the technical, environmental and financial studies necessary to establish the project. That’s due to its technical and financial capabilities and expertise in the field of sustainable energy.
The station will supply the cities located east of Cairo, under the jurisdiction of the Authority, and include the new Cairo, the city of Al Shorouq, the city of Badr, and the city of 10th of Ramadan.
The project is the second for FAS in the field of power generation in Egypt. After the inauguration of its first projects – in Benban solar power complex in Aswan – with investments of $ 100 million and a capacity of 50 MW.
FAS Energy, a subsidiary of Fawaz Al Hokair Group, seeks to provide renewable energy solutions to the Middle East and North Africa. The projects portfolio of FAS Energy currently includes around 8,000 MW of solar energy.
