alfanar Energy signs PPA for 50 MW Solar PV Plant in Egypt

Eng. Gamal Abdel-Rahem, Eng. Sabah Al Mutlaq & Eng. Jamal Wadi

alfanar Energy recently signed a  Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company  (EETC) for 50 MW PV plant under Feed–in–Tariffs Programme in Egypt.

The PPA has been signed by Eng. Gamal Abdel-Rahem,  EETC Chairman & Eng. Sabah Al Mutalq,  Vice chairman – alfanar Group, in presence of Eng. Jamal Wadi,  CEO of alfanar Energy.

Being a region’s leader in the energy sector, alfanar Energy proclaims its capabilities to compete and to expand the international operations as a key player in Renewable Energy devoting more than 40 years of experience & resources for green & sustainable energy.

alfanar Energy new project in Egypt is IPP – 50 MW Solar PV under the FiT scheme located at the proposed 1.8 GW Benban solar complexes in the Aswan governance of Egypt. alfanar Energy aims to enhance its international expansion around the globe. The project will be one of the first utility scale solar plants in Egypt. The project is expected to be among the first few to reach financial closure and participate in achieving Egypt’s new approach of renewable energy.  alfanar Energy has secured non-recourse finance for the project in the order of USD 55 million from  the European Bank for Reconstruction and Development (EBRD) and the Islamic Corporation for the Development of Private Sector (ICD).

Established in 1976, alfanar is the region’s leading player in the manufacturing, EPC businesses, design & development centers and a host of facilities in the Middle East and the other 17 counties with a manpower of 22,000 employees in which more than 2,000 engineers included.