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Egyptian solar company SolarizEgypt says it has secured a long-term PPA for a utility-scale solar power project it will build in the Suez governorate, a deal it says is the first private power purchase agreement for utility-scale solar awarded in the country.SolarizEgypt said the 25-year agreement was awarded by the Arabian Cement Company ACC ?the third largest cement producer in Egypt ?at Ain Sokhna-Suez. The contract relates to a 6 MW solar power plant expected to generate around 14 GWh per year to meet up to 4% of the electricity needs of a facility owned by ACC.The project is scheduled to start commercial operation by April, the company said. This project is enabled by a unique business model, where SolarizEgypt acts as an independent po <a href=https://www.cups-stanley.com.de>stanley cup</a> wer producer and sells electricity directly to ACC, with <Egyptian>pound]-denominated competitive pricing to the current governmental tariffs, it said in a statement. What we can say is that the PPA is priced at a discount to grid price, a company spokesperson told聽pv magazine.Euro and Egyptian lenders on boardThe $5.5 million solar project will be backed by QNB AlAhli, one of Egypts lar <a href=https://www.cups-stanley.us>stanley cup</a> gest commercial banks, under the Green Economy Program of the European Bank for Reconstruction and Development EBRD . The two lenders are supporting further loans to private sub-borrowers for energy efficiency and renewable energy projects which are of particular relevance in the context of the high energy <a href=https://www.cup-stanley-cup.ca>stanley cup</a> intensity of the Egyptian聽economy.Egypt has |
