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Monday, 15 October 2018

A string of renewable energy news worth your attention

A string of news from the energy industry worth your attention this morning:

Italy’s Eni is looking to invest USD 300 mn in building solar power stations with a combined production capacity of 300 MW, Electricity Ministry sources said. According to the sources, the company has requested a license from state utilities regulator Egyptera to build a 50 MW solar station as independent power producer. Eni is also in talks with the Egyptian Electricity Transmission Company to build other stations with a combined capacity of 250 MW under a build-own-operate framework.

ACWA to sign PPA for 500 MW Gulf of Suez wind projects by year’s end: Saudi Arabia’s ACWA Power expects to sign power purchase agreements (PPA) with the EETC for its USD 500 mn, 500 MW wind projects in Gulf of Suez before the year is out, ACWA CEO Paddy Padmanathan said. Construction of the projects will begin within 45 days. ACWA had received sign-off for the projects in September.

Another “international company” will finish constructing its 120 MW Gabal El Zeit 3 wind station before year-end, a source from the New and Renewable Energy Authority said. The source does not disclose the company name, but GE Power had reached an identical agreement with the EETC last year.

Negotiations between the Electricity Ministry and UAE’s Al Nowais over the Oyoun Moussa coal-fired power plant in South Sinai have stalled over the final price of electricity, sources told Al Mal. The ministry apparently also cited the difficulty of identifying a location for a port to receive the coal in Oyoun Moussa as an obstacle to a final agreement, the sources added. The Egyptian Electricity Holding Company expected to reach a final agreement on the USD 4 bn project with Al Nowais by June. Earlier this month, an official reportedly said the construction of the project will be completed in four years’ time.

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