Independent power company Globeleq has completed the acquisition of a 48.3% equity stake in the 25 MW Winnergy solar photovoltaic (PV) plant in Egypt from Enerray, Enerray Global Solar Opportunities and Desert Technologies.
The plant, which is in operation, is located within Egypt’s flagship Benban Solar complex, near Aswan, and is adjacent to Globeleq’s 66 MW ARC solar plant.
“This transaction confirms Globeleq’s long-term commitment to Egypt where the company has been investing for 20 years.
“The addition of Winnergy is a good fit with our existing portfolio as we pursue additional opportunities in Egypt across green hydrogen and ammonia, solar, wind and desalination.
“Egypt is committed to an ambitious energy transition programme and we look forward to playing our part,” says Globeleq CEO Mike Scholey.
The Winnergy plant was originally developed as part of the second round of the Egyptian government’s feed-in-tariff programme.
Beginning operations in 2019, it provides about 58 GWh/y of clean electricity to the Egyptian Electricity and Transmission Company, under a 25-year power purchase agreement, which the company says avoids about 30 000 t/y of carbon dioxide emissions.
GILA Altawakol Electric, an Egyptian group in electrical engineering, equipment manufacturing and services, remains the co-shareholder and operations and maintenance contractor of the Winnergy plant.
Globeleq and Altawakol have worked together since 2019 and will continue to cooperate on the asset management and operation of the plant.
“It gives us great pleasure to partner with a highly regarded company such as Globeleq. We look forward to leveraging their extensive experience to optimize the performance of the Winnergy asset. Gila continues to be committed to Egypt’s, and the global mission of, decarbonisation,” says GILA Altawakol Electric chairperson Amr Tawakol.