PHOTO
Two workers clean the photovoltaic panels of the Boundiali solar power plant in Boundiali on May 22, 2024. Amid a cloudless sky in Ivory Coast, the sun shines on a town that holds the country's first solar power plant -- a symbol of the country's transition to clean energy. In April, the plant was opened in the northern town of Boundiali with the aim to improve the supply of electricity to more than 430,000 households, the Ivorian Ministry of Energy said. (Photo by Sia KAMBOU / AFP)
Saudi-listed ACWA Power has received a commercial operation certificate for its 611- million Saudi riyal ($163 million) Kom Ombo solar photovoltaic (PV) plant in Egypt.
The 200 megawatts (MW) plant is located in Kom Ombo, Aswan governorate, the company said in a statement to the Saudi stock exchange.
ACWA Power holds 100 percent of the project company, which has signed a 25-year power purchase agreement with the state-backed Egyptian Electricity Transmission Company (EETC).
The company submitted the lowest tariff contracted to date for a solar energy project in North Africa, according to the ACWA Power website.
Once operational, Kom Ombo PV will cater to the power needs of 130,000 households and offset 280,000 tonnes of carbon dioxide per year, the website said.
In April 2023, Zawya reported that the project secured $123 million in financing from
European Bank for Reconstruction and Development (EBRD), OPEC Fund for International Development (the OPEC Fund), African Development Bank (AfDB), AfDB’s Sustainable Energy Fund for Africa (SEFA), Green Climate Fund (GCF), Arab Petroleum Investments Corporation (APICORP) and Arab Bank.
(Editing by Anoop Menon) (anoop.menon@lseg.com)
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