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ACWA Power inks deals for Kom Ombo solar plant with $80m investments

ACWA Power inks deals for Kom Ombo solar plant with $80m investments
The commercial operation of the project is expected to start in Q3-22

Cairo – Mubasher: The Egyptian Minister of Electricity and Renewable Energy, Mohamed Shaker, announced the signing of agreements for the establishment of a 200-megawatt (MW) solar photovoltaic plant in Aswan's Kom Ombo under a build, own, operate (BOO) scheme with total investments of $80 million.

The Egyptian Electricity Transmission Company signed a 25-year power purchase agreement (PPA) with ACWA Power related to the Kom Ombo solar photovoltaic plant, according to a statement on Tuesday.

In addition, the New and Renewable Energy Authority (NREA) signed a usufruct land agreement with ACWA Power for a 25-year period in exchange for the value of usufruct, equivalent to 2% of the total value of the generated power.

The commercial operation of the project is expected to start in the third quarter (Q3) of 2022, with enough clean energy to power 130,000 households.