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Monday, 16 July 2018

Empower plans to pump in EGP 420 mn to finance construction of WtE plants

INVESTMENT WATCH- Energy group Empower is planning to invest EGP 420 mn this year in waste-to-energy (WtE) projects, CEO Hatem El Gamal tells Al Shorouk. Empower had reportedly won a contract last month to produce and sell electricity from its 24 MW WtE plant in Beheira under an independent power producer (IPP) framework. The plant is currently selling electricity at a feed-in tariff rate of EGP 1.03/kWh until the government announces an official tariff structure, El Gamal said. Sources had said that the Egyptian Electric Utility and Consumer Protection Agency has already approved setting the feed-in tariff for WtE projects at EGP 1.03 per kWh.We had heard before, however, that Cabinet would set the rate of EGP 1.40 per kWh.

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