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Monday, 4 February 2019

Hassan Allam, TAQA complete construction of EGP 1.35 bn Benban solar plant

EXCLUSIVE- Hassan Allam-TAQA consortium to start operations this month at EGP 1.35 bn Benban solar plant: Hassan Allam Utilities and Qalaa Holdings subsidiary TAQA Arabia have completed construction on their EGP 1.35 bn, 50 MW solar power plant in Aswan’s Benban complex, a source close to the matter told us. The plant is now connected to the EETC’s substation and is pending performance tests before being connected to the national electricity grid under the second phase of the feed-in tariff program, our source says. Once operational, the plant will generate 154 mn KWh of energy per year and be responsible for total carbon emissions of just 65,371 tonnes per year. The project’s EGP 1.35 bn price tag is backed by a financing package created in partnership with the International Finance Corporation and Asian Infrastructure Investment Bank. Hassan Allam Utilities is a subsidiary of Hassan Allam Holding and is the group’s investment and asset development arm for the power, renewables and water-related sectors.

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