JV wins $250mn Egypt renewables projects
Desert Technologies (DT) and Enerray to develop two 50MW solar plants in Benban and a 50MW wind project.
Desert Technologies (DT) and Enerray have been awarded two 50MW photovoltaic projects in Egypt.
The joint venture between Saudi-based DT and Italy’s Enerray has signed MOUs with Egypt’s New and Renewable Energy Agency (NREA) to lease two plots of government land in Benban.
A total of $250mn will be invested in the two solar project – as well as a 50MW wind project - which will be developed under the country’s Feed-in-Tariff (FiT) system, according to a statement.
Desert Technolgies and Enerray will serve as engineering, procurement and construction (EPC) contractors and Operation and Maintenance providers for the sites.
Nour Mousa, chief executive officer of Desert Technologies, said: “Egypt has always been one of the key target markets for Desert Technologies, so we are delighted by this massive award. It’s a landmark achievement for our company and the renewables market in the Middle East and North Africa. Building on our success in Jordan, we’re continuing to expand and gain market share regionally.”
Michele Scandellari, general manager of Enerray SpA, added: “Given the energy shortages in Egypt, renewable energy is essential for the country’s continued economic and industrial growth. Building on our commitment to our own projects, we also expect to act as EPC on behalf of other developers, positioning ourselves as one of the top integrated renewable EPCs and developers in the region.”