Saudi Arabia’s ACWA Power made a competitive bid to win the 200-MW solar power plant.
Hassan Amin, regional manager of ACWA Power, said that the company offered a price of 2.799 cents per kilowatt per hour (kWh)
As part of its efforts to acquire the tender, it submitted a discount letter to reach the final price of the tender for 2.752 cents, the lowest bid price.
The Egyptian Electricity Transmission Company (EETC) completed the opening of financial offers from international companies and alliances.
FRF, a subsidiary of ABG Group, offered 2,791 cents per kWh and Scatec offered 3 cents, while the El Sewedy EDF Marubeni alliance offered 3.15 cents.
The Actis-Energy alliance offered 3.5 cents per kWh. The Orascom-ENGIE consortium offered 3.4 cents.
The winning bidder will sell the energy produced to EETC for 25 years.
The Kom Ombo solar power station project is part of the Ministry of Electricity’s five-year plan, which aims to involve the private sector in the implementation of 67% of the projects set by the electricity sector to add about 3,500 MW, including 2,800 MW from solar technologies and 700 MW from photovoltaic cells.
Amin said that ACWA Power has put forward an ambitious plan to participate in major solar projects in the country, which comes within the Ministry of Electricity’s strategy to boost contribution of renewable resources to 20% of total energy by 2020.
He pointed out that the electricity sector in Egypt is currently witnessing serious investments to meet the country’s goals and ambitious plans to increase the production of clean renewable energy, relying on the private sector, which contributes in financing the construction and operation of power plants and the sale of electricity and maintenance projects.