Acciona Energía, the renewables subsidiary of Acciona Group, and Enara Bahrain Spv Wll (ENARA), the renewable energy platform of the Saudi company Swicorp, have begun construction work on three photovoltaic plants in Egypt with a maximum capacity of 186 MWp (150 MW rated ).
Representatives of the two companies, headed by ACCIONA chairman & CEO José Manuel Entrecanales and SWICORP Chairman Kamel Lazaar, visited the facilities yesterday. They will enter the commercial service in the next few weeks.
The facilities, which will be 50% owned by them when they enter service, represent an investment of around $ 180m and are located in the Benban complex set up by the Egyptian Government in the Aswan region.
"It is the first renewables project under our ownership in Egypt, a country that has set itself ambitious objectives in the development of renewable energies. This Beban PV complex -in which our three plants are included- is a great example of it, it will be able to supply energy to more than ten thousand people, "Acciona Chairman & CEO José Manuel Entrecanales said during the visit. "We are satisfied with having the assembly of the plants, and doing it with our partner Swicorp, with whom we have had a fantastic experience. We are working together on other renewable initiatives in Africa and the Middle East ".
Swicorp Chairman Kamel Lazaar said that "he has had a tremendous synergy with Acciona, with all its technical know-how and its knowledge of the international market, and its knowledge of the local market and financial engineering, so it worked for both parties ".
The three projects in Benin come under the feed-in tariff system established by the Egyptian Administration in call for tender Round 2 published in October 2016. Overall, they will produce clean energy equivalent to the consumption of around 150,000 297,000 tonnes of CO2 per year from fuel oil power plants.
The Electricity Transmission Company (EETC) under a long term PPA contract (25 years) governed by the conditions set in Round 2. Finance for the operation with International Finance Corporation (IFC) , a World Bank, and Asian Infrastructure Investment Bank (AIIB), both specialized in financing private projects in emerging countries.
The plants cover a surface area of 2.88 square kilometers. 572,322 Astronergy (Chint Group) polycrystalline silicon photovoltaic modules have been assembled on horizontal axis trackers manufactured by STI Norland.
The construction work has taken place over eleven months with more than 1,000 people working on the sites. The first plant will be in the service of a few days and the two others will be in the next few weeks. With these facilities, ACCIONA will reach a total installed capacity of more than 1,000 MWp (633 MWp net).