Acciona Energia, the renewables subsidiary of ACCIONA Group, and Enara — the renewable energy platform of Saudi company Swicorp — have started construction on three PV projects totaling 150MW in Egypt.
The installations, which will be owned at 50% by both companies once completed, stand as an investment of around US$180 million and are located in the Benban complex — established by the Egyptian Government in the Aswan region.
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These three projects are Acciona Energia’s first renewable projects in Egypt.
Once completed, the projects will produce enough clean energy equivalent to the consumption of around 150,000 Egyptian homes.
Power generated by the three projects will be supplied to the utility Egyptian Electricity Transmission Company under a long-term PPA that will last for 25 years. Financing will be provided by both the IFC and the AIIB.
Construction work has already started on the three projects — with work slated to last for an estimated 12 months until the start of operations for the plants.
Each of the three projects will be equipped with 190,774 polycrystalline silicon modules mounted on horizontal-axis tracking structures manufactured by STI Norland.