ACWA Power Signs Final Deals for 200MW Solar Project In Egypt

Thursday, 8 April, 2021 - 04:45
A virtual ceremony by senior ACWA representatives and Egyptian government officials while finalizing deals for a 200MW solar plant in Egypt.
Asharq Al-Awsat
Saudi developer ACWA Power has finalized agreements for the 200MW Kom Ombo solar plant in Egypt, with construction work set to begin later this year.
A 25-year power purchase agreement and network connection contract were signed at a virtual ceremony by senior ACWA representatives and Egyptian government officials.
The Saudi company is due to obtain $40-million senior debt financing and a $14 million equity bridge loan from the European Bank for Reconstruction and Development (EBRD), and a $27.2-million loan from the African Development Bank (AfDB) to finance the project.

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