ACWA Power and Egyptian Government sign the PPA for a 200 MW solar PV plant in Egypt

ACWA Power has finalised the project agreements for the 200 MW Kom Ombo solar photovoltaic (PV) plant in Egypt. It has recently signed the 25-year power purchase agreement (PPA), network connection contract and usufruct agreement with the Egyptian government. The government guarantee for the solar PV project had already been signed in January 2021. The project is expected to achieve financial closure in the third quarter of 2021. It will obtain a $40 million senior debt financing and a $14 million equity bridge loan from the European Bank for Reconstruction and Development. In addition, it will receive a $27.2 million loan from the African Development Bank to finance the construction, development and design of the project. The project construction is expected to begin in the third quarter of 2021.


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