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Thursday, 7 December 2017

Empower reaches final agreement with Canadian partners for 10 MW waste-to-energy plant

Energy group Empower has reached a final agreement with unnamed Canadian investors to establish a 10 MW waste-to-energy (WtE) plant with initial investments of EGP 400 mn, Empower CEO Hatem El Gamal tells Al Borsa. Empower and its partners have reportedly received the necessary licenses and plan to launch the project “within days.” The consortium will increase its investments once the economy stabilizes and the government issues a final WtE feed-in tariff (FiT), according to El Gamal. Last week, the ministry reportedly set a maximum rate of EGP 1.35 per kWh for WtE projects, after reports had emerged that the Ismail Cabinet was looking into imposing a three-tier tariff system with a maximum rate of EGP 1.60 per kWh.

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