Acciona, Swicorp finalise PV trio in Egypt

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
The 186MWp projects will supply power to state utility EETC through a 25-year PPA (Credit: Acciona/Swicorp)

The Acciona Group and Swicorp have wrapped up the construction of three PV plants in Egypt, with plans to launch commercial operations in the next few weeks.

Acciona president José Manuel Entrecanales and his Swicorp counterpart Kamel Lazaar inspected the newly-built projects this week, which required US$180 million in investment.

Representing 186MWp in aggregate capacity (150MW in rated terms), the plants at Egypt’s Benban solar complex (Aswan region) are the work of subsidiaries Acciona Energía and Enara Bahrain Spv Wll.

The firms began construction almost a year ago, a process involving over 1,000 workers. The resulting plants span close to three square kilometres and are equipped with 570,000-plus polycrystalline silicon PV modules, produced by STI Norland.

Put together, the trio should produce power able to satisfy the needs of 150,000 homes, with a 25-year PPA signed in October 2017 with Egyptian state utility EETC. 

The projects are supported through Egypt’s second feed-in-tariff round of October 2016, as well as financing from the Asian Infrastructure Investment Bank and the World Bank’s International Finance Corporation.

Acciona and Swicorp will each own a 50% share of the plants once they become operative. The firms are currently working together on further renewable schemes in Africa and the Middle East, Acciona’s Entrecanales said in a statement on Tuesday.

For Acciona, the Swicorp partnership takes its worldwide PV capacity count past the 1,000MWp mark. In 2018 alone, the Spanish conglomerate made strides with various projects in Mexico and Chile.

The three plants are among the latest additions to the Benban complex, a scheme by the Egyptian government to build 1.8GW in PV capacity through 32 privately-owned plants. The site will also host projects by French developer Voltalia and Scatec Solar.  

Read Next

May 10, 2021
Spanish energy company Acciona plans to carry out an initial public offering (IPO) of its renewables unit before the end of June despite recent volatility among Spanish green energy stocks.
May 4, 2021
Spanish renewables developer and independent power producer (IPP) Grupo Ecoener has seen its shares slide on its market debut today.
May 4, 2021
German developer and EPC contractor juwi has secured a deal to design, supply and build a solar-storage hybrid project at an off-grid gold mine in Egypt.
April 26, 2021
Solar developer ACWA Power has secured a total US$114 million from financial institutions to fund the construction of what it claims will be Egypt’s largest private solar plant.
April 14, 2021
Independent energy trader BB Energy (BBE) has set its sights on Africa’s solar and storage market by acquiring Solarcentury’s Africa-facing division for an undisclosed sum.
April 12, 2021
Spanish energy company Acciona has secured shareholder approval for an initial public offering (IPO) of its renewables division, providing a boost for the firm’s plans to reach 6GW of installed PV by 2025.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
May 11, 2021
Upcoming Webinars
May 26, 2021
Session 1 - 7:00 AM (BST) | Session 2 - 5:00 PM (BST)
Solar Media Events
June 15, 2021
Solar Media Events
July 6, 2021