Acciona Energía and Saudi Arabian firm Swicorp, via renewable energy platform Enara Bahrain, are to build and own three solar PV plants with a combined capacity of 186MW in the Benban solar complex in Aswan, Egypt.
The three 50MWac (62MWp) plants, requiring US$180 million investment, will be equipped with190,774 polycrystalline silicon modules from Jinko Solar, mounted on horizontal-axis tracking structures made by STI Norland.
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The projects mark Acciona’s first foray into renewable energy within Egypt.
25-year Power Purchase Agreements (PPAs) and corresponding network connection contracts (NCCs) have been signed today with Egyptian Electricity Transmission Company (EETC).
The three projects also come under Egypt’s Round 2 feed-in tariff (FiT) programme launched in October last year.
The projects are expected to produce enough power for the equivalent of around 150,000 Egyptian homes.
Both International Finance Corporation (IFC) and Asian Infrastructure Investment Bank (AIIB) provided financing for the projects.
“We are very pleased to increase our presence in an area with great potential in the long run for the renewable energy sector as is North Africa, working with such reputable partner as Swicorp with the support of IFC and AIIB,” said Acciona Energía CEO Rafael Mateo.
Construction work is expected to start in December 2017, with commissiong planned 12 months after.