ACWA Power to invest $10 bln in Egypt’s renewables

ACWA Power plans to invest at least $10 billion in renewable energy projects in Egypt, said Hassan Amin, ACWA Power Egypt Country Manager.

The Riyadh-based firm is investing $200 million in Egypt’s Benban Solar Park, he said on the sidelines of Egypt’s first international conference on renewable energy.

More than 30 international firms are investing in what will be the biggest solar complex in the world, producing 1,500 megawatts of solar power.

ACWA Power will be handling three plants in Benban complex, with the total capacity of 120 megawatts.

Benban Solar Park, which is valued at $20 billion, is not the firm’s only investment in Egypt’s renewable energy, as ACWA Power is taking part in several solar and wind power projects especially in Upper Egypt, he added.