Acciona plans to develop 150MW solar power plants in Egypt

20/10/2017 15:01 Solar

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Acciona Energía, a subsidiary of the Spanish company Acciona, will develop three $180m solar photovoltaic (PV) plants with a total capacity of 150MW (186 MW-peak) in Egypt. These will require an investment of approximately $180 million.
  

Acciona Energía will build and share the project 50-50 with its partner Swicorp (Saudi Arabia) which will be represented by Enara Bahrain Spv Wll, its renewable energy platform.


According to Acciona Energía, the three identical PV plants record its first green energy project in Egypt, which will be situated in the Benban complex in the Aswan region.


Acciona Energía CEO Rafael Mateo said: “We are very pleased to increase our presence in an area with great potential in the long run for the renewable energy sector as is North Africa, working with such reputable partner as Swicorp”


The construction of the power plants could start in December 2017, while their operations are expected to begin in December 2018.

 

The three solar plants will produce enough energy to meet the electricity demand of around 150,000 Egyptian households. At the same time, they would reduce 297,000 tonnes of CO2 emissions.

 

Novatek Announces Major Offshore Gas Find in Russian Arctic

11/10/2018 08:58:00

Russian gas and LNG firm Novatek announced Wednesday that it has found a major new gas field in the Gulf of Ob, just off the Yamal Peninsula in the Russian Arctic.

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Shell provides fresh boost for North Sea oil and gas industry

11/10/2018 08:48:00

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Daily (10.10.2018): German day-ahead power price declined by more than 13% on Tuesday due to high wind output

10/10/2018 11:00:00

Global oil prices rose slightly on Tuesday, on signs of falling crude Iranian exports, before the imposition of a new round of U.S. sanctions. Furthermore, a partial shutdown in production in the Gulf of Mexico, ahead of Hurricane Michael heading towards eastern states sustained the upward trend in prices. WTI crude oil price, the U.S. benchmark contract, gained 67 cents on Tuesday, representing a 0.9% increase, and traded at $74.96 a barrel. Meanwhile, the international benchmark Brent crude oil futures rose by 1.3% to trade at $85.00 a barrel.

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