Building Energy to develop two 50 MW PV plants with the New and Renewable Energy Authority (NREA), Egypt

Building Energy to develop two 50 MW PV plants with the New and Renewable Energy Authority (NREA), Egypt

The projects will reduce CO2 emissions by 100,000 tons and will create over 1,000 new jobs. The two solar PV plants, worth 200 million US Dollars, will each generate around 143 GWh per year, re-ducing CO2 emissions by over 100,000 tons. The plants will be connected to the 220 kV high voltage line linking Asswan to Cairo, providing energy to a total of 50,000 families, through a 25 year Power Purchase Agreement (PPA). More than 1,000 new solar jobs will be created during construction of the plants, while other 70-80 long-term jobs during operation. Construction works will begin in summer 2016 and will last for one year.

 

“We are delighted to see substantial interest by reputable international developers in partnership with local companies investing in the Egyptian market for renewable energy under the lately announced legislations and FIT Program - said Dr. Mohamed Shaker El-Markabi, Minister of Electricity and Renewable Energy – Apart from helping to boost electricity generation, and economic development many new jobs will be cre-ated.”

“With the allocation of public land under a fair and tightly managed scheme, the process of deploying 2 GW of solar energy under the FIT program, first regulatory period 2015-17, exceeded expectations so far and has reached an important project development milestone – said Dr. Mohamed El Sobky, Executive Chairman NREA - NREA foresees a considerable number of developers to reach financial close early 2016 and start construction thereafter.”

 

“We’re delighted to have signed this MoU; the Benban project marks an important result for Building Energy because it is our first one in Egypt representing a key pillar of our expansion strategy in the MENA area.” - said Cornelius Matthes, Building Energy’s Managing Director of the Middle East and North Africa – “We are grateful to the Egyptian Ministry of Electricity and Renewable Energy for their trust in our company and we look forward to working on this project helping the development of renewable energy and creating new energy jobs.

 

Sign up for job alerts

Found 399 jobs in this campaign

RelevanceNewest first

Sign up for job alerts