ACWA Power signs EPC Contract with Chint Group to build three PV projects in Egypt
ACWA Power, in collaboration with China’s Chint Group, will undertake the 165.5MWp PV projects at Benban within the Egypt’s Feed-in-tariff program
ACWA Power, a leading developer of power and water desalination projects, awarded an EPC contract to China’s Chint Group for three solar photovoltaic power plants at Benban, Egypt within the Feed-in-Tariff (FiT) program. The contract was signed yesterday during the World Future Energy Summit at Abu Dhabi.
The EPC contract moves forward the development of these three projects of a total investment value of US$ 190 million, which together will generate a total of 165.5 MWp. These projects contribute to the target of obtaining 20% of energy requirements from renewable sources by 2022, set out by the Government of Egypt and the Ministry of Electricity and Renewable Energy (MoERE).
“The award of this contract triggers the engineering, procurement and construction of these three plants which also represent our first investment in Egypt,” said Paddy Padmanathan, President and CEO of ACWA Power.
“We are confident of our partner Chint Group delivering the plants to the highest quality and in a timely manner without compromising health, safety and environmental impact. We are excited to have entered the Egyptian power market through what we look forward to as the first three of many more assets to be developed in future.”
Dr. Chuan Lu, CEO of Chint Solar said, “Egypt is a growing market where significant change is happening in the renewables industry. We look forward to working with ACWA Power to deliver these significant projects that will contribute to the Egyptian government’s vision.”
The projects, which are located in the Aswan Province at Benban, will have a respective capacity to generate 67.5 MWp, 70 MWp and 28 MWp as individual projects. The construction of the all projects will commence in Q1 2018. Once the projects start operations in Q4 2018, the new installed capacity will power 80,000 houses and provides a saving of 156,000 tons of CO2 a year.
With power demand in Egypt having grown by 28% in recent years, the Benban photovoltaic facility will be a key component of the government’s efforts to meet the country’s increasing energy needs through renewable resources in addition to supporting Egypt Vision 2022 and 2030.