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Wednesday, 19 September 2018

Empower signs contract with El Beheira Electricity Distribution Company to sell electricity from waste

Energy group Empower signed a contract with El Beheira Electricity Distribution Company to produce and sell electricity from two waste-to-energy (WtE) plants that Empower will establish, CEO Hatem El Gamal tells Al Mal. The EGP 160 mn plants will be partially financed through a loan from unnamed local bank, with the rest sourced from the company’s own resources. Empower will sell electricity to the government-run company at EGP 1.30 per kWh for 20 years. Work on the projects is set to begin in October and be completed by mid-2019. We had earlier noted that Empower won a contract to produce and sell electricity from its 24 MW waste-to-energy (WtE) plant in Beheira under an independent power producer (IPP) framework.

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