Back to the complete issue
Tuesday, 23 January 2018

Masdar proposes solar plant investments of USD 600 mn

INVESTMENT WATCH- Masdar plans to invest in up to 500 MW of solar power generation capacity: UAE’s Masdar presented the New and Renewable Energy Authority (NREA) with plans to develop solar power plants with a combined capacity of 500 MW,authority sources told Al Mal. The plants would operate under a build-own-operate framework and will sell electricity to the Egyptian Electricity Transmission Company (EETC) at a price of USD 0.038 per kWh. The move follows the company’s announcement earlier this month of investments in wind power projects, including a partnership with Japan’s Marubeni to invest USD 900 mn in wind parks. Masdar CEO Mohamed Al Ramahi had said last week that the firm plans to develop about 800 MW of wind projects across the country.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.