Photo by: Bloomberg
Italian independent renewable-energy power producer Building Energy has signed a memorandum of understanding with Egypt’s New & Renewable Energy Authority for two 50 MW, $200-million, photovoltaic (PV) plants, in Benban, Upper Egypt.
The plants, which would be built in 2016, were expected to generate around 143 GWh/y, contributing to the reduction of over 100 000 t of carbon dioxide.
By means of a 25-year power purchase agreement, the plants would be connected to the 220 kV high-voltage line linking Asswan to Cairo, satisfying the energy needs of 50 000 families. The project would also create more than 1 000 jobs during construction and a further 70 to 80 long-term jobs during operation.
“[Egypt] is blessed with world-class solar and wind resources and has established a well managed programme under which it aims to produce at least 20% of its total power from renewable sources by 2020.
“This is why the Egyptian government has implemented a series of concrete steps to facilitate foreign investments, in order to meet the increasing energy needs and support the economic growth of the country,” Building Energy Middle East and North Africa MD Cornelius Matthes said.
Besides the Benban project, Building Energy was also the leader in a shortlisted consortium for the development of a 200 MW PV plant in KomOmbo, as well as having been shortlisted for other large-scale PV projects in Jordan.