Spanish company “Acciona” and Saudi Arabia’s “Swicorp” entered into negotiations to build three solar power plants with a total capacity of 186 MW at the Benaban solar power complex in Aswan.
The two companies are expected to invest $ 180 million in the project. The two companies have 50% of the projects to be included in the second phase of the feed rate program for renewable energy projects.
Eneray has already announced that in April it will start construction of three solar plants at the Benban complex, with a total capacity of 116 megawatts, without disclosing the expected cost of the three plants.
The International Finance Corporation (IFC), the Asian Infrastructure Investment Bank , the Arab Bank-Europe and the Green Climate Fund , will participate in the financing.
Eneray has also reached a 25-year energy purchase agreement with the Egyptian Electricity Transmission Company (EETC) for $ 71 per megawatt-hour.
