The Egyptian Electricity Transmission Company (EETC) and Al Nowais Investments will sign an agreement on Tuesday to build $750m renewable energy plants in Egypt, with a total capacity of 700MW, a senior official in the Electricity Ministry told Daily News Egypt.
The Emirati company would build a 200MW solar plant in Kom Ombo region of Aswan with $200m investments, and the EETC would buy the plant’s production at about 2.48 piasters per kWh.
Al Nowais would also establish a 500MW wind farm in the Jabal Al-Zayt area with $550m investments, and the EETC would purchase the electricity produced from the project at about 3.1 piasters per kWh.
Earlier in October, the Electricity Ministry cancelled Al Nowais’ coal-fired power station project in Oyoun Mousa, however, the Emirati company notified the government of its desire to rather implement renewable energy projects.
