ACWA Power awards EPC contract for Egypt solar projects

16/01/2018 Argaam

 

Saudi Arabia-based ACWA Power has awarded engineering, procurement, and construction (EPC) contract to China’s Chint Group for three solar photovoltaic power plants at Benban, Egypt, under the country's Feed-in-Tariff (FiT) program, the power-plant developer said on Tuesday.

 

The contract, signed during the World Future Energy Summit in Abu Dhabi, moves forward the development of the three projects that have a total investment value of $ 190 million.

 

The value of the contract was not disclosed.

 

The three plants together will generate a total of 165.5 MWp, and contribute to Egypt's target of obtaining 20 percent of its energy requirements from renewable sources by 2022, the firm said in a statement.

 

The construction of the projects is expected to start this quarter, with operations likely to begin before the end of this year.

 

Last week, ACWA Power said it had reached the financial close for the three projects.

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