TAQA Arabia unit to build two PV stations for $4mln

TAQA Power, a subsidiary of TAQA Arabia the largest fully integrated private sector energy distribution group in Egypt, has signed an engineering, procurement, and construction (EPC) contract and a power purchase agreement (PPA) agreements with Abu Soma Touristic Development (ASDC), an emailed press release said.

With total investments of $4 million, the new venture will build two photovoltaic (PV) power stations with a total capacity of 5 megawatts (MW) in Somabay in the Red Sea.

“This has been a longtime coming as it coincides with Somabay’s vision of connecting with nature and looking after it. This 10 million m2 peninsula south of Hurghada, which harbors an exquisite recreational sandy beach along its 11KM coastline requires special care. Hence, our motto is “Outstanding by Nature”, and this necessarily entails that we work to reduce our carbon footprint,” Somabay’s CEO, Ibrahim El Missiri, commented.

TAQA Power will build and operate a PV station with a capacity of 3.8 MW over a nine-month period on the land owned by Somabay. Taqa Power will be entitled to a 30-year concession management agreement of this station.

The company will also design, deliver, and install another PV station, with a 1.2 MW capacity, and then transfer its management to ASDC.

“Our primary objective is to generate the power required using solar energy to reduce electricity & water desalination cost, thereby closing the gap between our consumption and distribution demands,” El Missiri said.