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EETC to negotiate with ACWA Power over Kom Ombo solar plant - Daily News Egypt

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EETC to negotiate with ACWA Power over Kom Ombo solar plant

Company sells energy at 2.75 piasters, contracts to be signed in August

The Egyptian Electricity Transmission Company (EETC) will begin negotiating with Saudi ACWA Power this week to launch a 200MW solar power plant in Kom Ombo after the company had presented the lowest financial offer.

The committee formed to evaluate selling offers found that the lowest price was offered by ACWA Power at 2.75 piasters. Negotiations over contracting will be concluded by the end of August, sources in the EETC told Daily News Egypt.

The El Sewedy – EDF – Marubeni alliance offered to sell energy at 3.15 piasters in the tender, while the Actis-Energal alliance offered 3.517 piasters.

Scatec offered 3,045 piasters and Orascom’s alliance offered 3.4 piasters, while FRV offered 2.79 piasters.

The sources pointed out that the committee did not delay in settling the tender, especially as it has many aspects that need to be reviewed, as well as the feed-in tariff projects that will enter the service by the end of the current year.

The Kom Ombo solar power project is one of the most prominent projects in the ministry of electricity’s five-year plan, which aims to involve the private sector in the implementation of 67% of the projects set to add about 3,500MW.

According to the sources, the price offered by the Saudi company ACWA Power will be a guiding price if investors or companies request to implement solar energy projects and sell electricity produced to the EETC.

The ministry of electricity aims to produce 20% of the country’s electricity from renewable sources by 2022. The ministry aims to implement this strategy through cooperation with the private sector and implement projects on different contractual schemes.

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