Cairo signs $7bn coal power deal

14 March 2015

Saudi developer Acwa Power signs deal with Cairo to develop 4,000MW clean coal plant in Egypt

  • Cairo unveils $7bn, 4,000MW clean coal power plant
  • Saudi Arabia’s Acwa Power to lead the development
  • Plant to be built in two phases
  • Feasibility studies underway

Saudi Arabia’s Acwa Power International has signed a memorandum of understanding (MOU) with the Egyptian Electricity Holding Company (EEHC) to develop $7bn of coal-fired power generation facilities in Egypt.

The coal fired generation facilities will be built over two phases, each of 2,000MW, resulting in a total capacity of 4,000MW of coal generation facilities. The coal facilities will be developed under an independent power project (IPP) model.

Feasibility

The project is currently in the feasibility stage, and it is hoped that studies will be completed by the end of 2015.

Signing the MOU at the Egypt Economic Development Conference (EEDC) in Sharm el-Sheikh on 14 March, Mohammad Abunayyan, chairman of Acwa Power, and Acwa Power’s CEO Paddy Padamanathan were present to sign the MOU with EEHC and the Egyptian Electricity & Energy Minister.

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