Saudi Arabia’s ACWA Power is expected to negotiate with the Egyptian Electricity Transmission Company (EETC) on the launch of a 200MW solar power plant in Kom Ombo after the company had presented the lowest financial offer.
The committee formed to evaluate selling offers found that the lowest price was offered by ACWA Power at 0.16 US cents.
Negotiations over contracting will be concluded by the end of August, reported Daily News Egypt.
The El Sewedy - EDF - Marubeni alliance offered to sell energy at 0.18 US cents in the tender, while the Actis-Energal alliance offered 0.21 US cents.
Scatec offered 0.18 US cents and Orascom's alliance offered 0.18 US cents, while FRV offered 0.16 US cents.
The sources pointed out that the committee did not delay in settling the tender, especially as it has many aspects that need to be reviewed, as well as the feed-in tariff projects that will enter the service by the end of the current year.
The Kom Ombo solar power project is one of the most prominent projects in the ministry of electricity's five-year plan, which aims to involve the private sector in the implementation of 67% of the projects set to add about 3,500MW.
According to sourcess, the price offered by the Saudi company ACWA Power will be a guiding price if investors or companies request to implement solar energy projects and sell electricity produced to the EETC.
Egypt’s ministry of electricity aims to produce 20% of the country's electricity from renewable sources by 2022. The ministry aims to implement this strategy through cooperation with the private sector and implement projects on different contractual schemes.