ACWA Power signs final agreements for 200MW PV project in Egypt

Facebook
Twitter
LinkedIn
Reddit
Email
Image: ACWA Power.

Saudi Arabian developer ACWA Power has finalised agreements for the 200MW Kom Ombo solar plant in Egypt, with construction work set to begin later this year.

A 25-year power purchase agreement and network connection contract were signed at a virtual ceremony by ACWA representatives and Egyptian government officials.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

The progress comes a month after the African Development Bank approved a US$27.2 million loan to finance the construction, development and design of the project, with financial closing scheduled for the third quarter of 2021.

Finalising the project agreements for Kom Ombo marks a “significant milestone” towards fulfilment of the plant, said Rajit Nanda, acting chief investment officer of ACWA Power.

“The tariff is the lowest in the African continent for a project that is soon to achieve financial close and commence construction, which demonstrates that globally competitive tariffs are possible in North Africa and the wider African region,” he added.

In addition to Kom Ombo, ACWA’s presence in Egypt’s energy market saw the company develop three projects totalling 120MW at the Benban solar complex. It is also involved in the development of a 2.3GW natural gas facility that is due to be fully operational in 2023.

While Egypt is aiming to produce 42% of its electricity from renewables by 2035, studies are underway to increase this percentage, said the country’s Minister of Electricity and Renewable Energy, Mohamed Shaker El-Markabi.

“Egypt is home to a wide range of untapped renewable resources, particularly wind and solar energy,” he added. “The electrical capacities that can be generated from renewable sources can reach up to nearly 90GW.”

Read Next

October 7, 2025
Juniper Green Energy through its subsidiary Juniper Green Sigma Eight has signed a 70MW power purchase agreement with renewable energy giant Tata Power. 
October 7, 2025
Doral Renewables has secured a PPA with an unnamed 'corporate buyer' for its 430MW Cold Creek solar-plus-storage project in Texas.
September 23, 2025
European power purchase agreement (PPA) prices fell 0.6% between July and August this year, according to Swiss consultancy Pexpark.
September 10, 2025
A project claimed to be Germany’s largest agriPV plant has been commissioned in the north-east of the country.
September 9, 2025
Iberdrola has signed a 77MW power purchase agreement (PPA) with Italian grocery retail group Selex Gruppo Commerciale.
September 8, 2025
Georgia Power has certified five new solar power purchase agreements (PPAs) within its borders, for a combined capacity of just over 1GW.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK