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Saudi’ ACWA Power in $3bn Egyptian electricity investment

Saudi Arabia's power and water desalination developer and Egypt's Hassan Allam Holding Company are joining hands on the construction of a 2.3-megawatt power plant in Luxor

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Power plant, Egypt, Electricity, Hassan Allam Holding Company, Luxor, ACWA Power, Saudi arabia

Egypt will be receiving $3bn of investments from Saudi Arabia's Acwa Power for the sake of energy initiatives the country is launching in 2019.

Saudi Arabia's power and water desalination developer and Egypt's Hassan Allam Holding Company are joining hands on the construction of a 2.3-megawatt power plant in Luxor.

Phase one of the planned $2.3bn plant is likely to begin operation by 2022, and is expected for full operation by 2023.

Acwa Power is making its investment for the execution of projects in Luxor, including Aswan's Benban Solar Park.

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