Al Jeel Al Hader Trading Company — acting on behalf of Desert Technologies — and Enerray SpA — a subsidiary of the Maccaferri Group — have announced that they have been awarded two 50MW PV projects through the Feed-in-Tariff Program in Egypt.
The two projects — along with another 50MW wind power plant — are expected to hold a total investment of US$250 million, with a mix of debt and equity financing.
Both companies have already signed MOUs with the New and Renewable Energy Agency (NREA) to lease two spots of government land for their PV plants in Benban, Egypt. Along with developing the plants, both Desert Technolgies and Enerray will serve as both engineering, procurement and construction (EPC) contractors and Operation and Maintenance providers for the sites.
Nour Mousa, chief executive officer of Desert Technologies, said: “Egypt has always been one of the key target markets for Desert Technologies, so we are delighted by this massive award. It’s a landmark achievement for our company and the renewables market in the Middle East and North Africa. Building on our success in Jordan, we’re continuing to expand and gain market share regionally.”
Michele Scandellari, general manager of Enerray SpA, added: “Given the energy shortages in Egypt, renewable energy is essential for the country’s continued economic and industrial growth. … Building on our commitment to our own projects, we also expect to act as EPC on behalf of other developers, positioning ourselves as one of the top integrated renewable EPCs and developers in the region.”